Bank of America Corp DE Sells 48,043 Shares of Innovex International, Inc. (NYSE:INVX)

Bank of America Corp DE reduced its holdings in Innovex International, Inc. (NYSE:INVX - Free Report) by 36.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,514 shares of the company's stock after selling 48,043 shares during the period. Bank of America Corp DE owned 0.12% of Innovex International worth $1,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INVX. KLP Kapitalforvaltning AS bought a new position in shares of Innovex International in the 4th quarter valued at about $88,000. Oregon Public Employees Retirement Fund grew its stake in Innovex International by 9.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company's stock valued at $124,000 after purchasing an additional 758 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Innovex International during the 4th quarter worth approximately $142,000. Amalgamated Bank increased its position in shares of Innovex International by 6.2% during the 4th quarter. Amalgamated Bank now owns 10,853 shares of the company's stock worth $152,000 after purchasing an additional 630 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its stake in shares of Innovex International by 9.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company's stock worth $177,000 after purchasing an additional 1,047 shares in the last quarter.

Wall Street Analysts Forecast Growth

INVX has been the topic of a number of recent analyst reports. Barclays lowered their target price on shares of Innovex International from $16.00 to $13.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. Wall Street Zen raised shares of Innovex International from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Johnson Rice raised shares of Innovex International to a "strong-buy" rating in a report on Friday, May 30th.

Innovex International Stock Performance

Shares of NYSE INVX traded up $0.16 during midday trading on Tuesday, hitting $16.18. 316,747 shares of the company's stock were exchanged, compared to its average volume of 404,573. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $19.42. The company's 50 day moving average price is $15.04 and its 200 day moving average price is $15.80. The firm has a market capitalization of $1.12 billion, a PE ratio of 11.48 and a beta of 0.79.

Innovex International (NYSE:INVX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%. The business had revenue of $240.42 million for the quarter, compared to analyst estimates of $247.73 million.

About Innovex International

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.