Innovex International, Inc. $INVX Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP significantly increased its stake in Innovex International, acquiring 901,066 additional shares, bringing its total ownership to 1,020,266 shares, valued at approximately $18.3 million.
• Analysts have shown mixed sentiments about Innovex International, with ratings ranging from a "strong-buy" by Johnson Rice to an "underweight" rating from Barclays, reflecting differing opinions on the stock's potential.
• Innovex International recently reported earnings of $0.28 EPS, slightly exceeding estimates, while also projecting a revenue value that fell short of analysts' expectations for the upcoming quarter.

Wellington Management Group LLP lifted its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 755.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,020,266 shares of the company's stock after buying an additional 901,066 shares during the period. Wellington Management Group LLP owned approximately 1.48% of Innovex International worth $18,324,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Innovex International by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,306,348 shares of the company's stock valued at $77,342,000 after purchasing an additional 43,343 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Innovex International by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company's stock valued at $27,107,000 after acquiring an additional 27,726 shares in the last quarter. Madison Avenue Partners LP grew its stake in shares of Innovex International by 64.6% during the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock valued at $23,560,000 after acquiring an additional 662,009 shares in the last quarter. Invesco Ltd. grew its stake in shares of Innovex International by 36.6% during the first quarter. Invesco Ltd. now owns 454,050 shares of the company's stock valued at $8,155,000 after acquiring an additional 121,582 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Innovex International during the first quarter valued at about $7,089,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on INVX shares. Wall Street Zen downgraded Innovex International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Johnson Rice upgraded Innovex International to a "strong-buy" rating in a research note on Friday, May 30th. Barclays decreased their price target on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a research note on Friday, May 9th. Finally, Piper Sandler initiated coverage on Innovex International in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $16.50.

Innovex International Stock Performance

INVX opened at $16.95 on Tuesday. The business's 50 day moving average is $16.16 and its 200-day moving average is $16.17. The stock has a market cap of $1.17 billion, a PE ratio of 5.87 and a beta of 0.79. The company has a current ratio of 4.60, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. Innovex International, Inc. has a twelve month low of $11.93 and a twelve month high of $19.42.

Innovex International (NYSE:INVX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Innovex International had a return on equity of 8.58% and a net margin of 16.66%.The firm had revenue of $224.23 million for the quarter, compared to analysts' expectations of $230.00 million. Innovex International has set its Q3 2025 guidance at EPS.

Innovex International Profile

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.

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