Zurcher Kantonalbank Zurich Cantonalbank Sells 37,295 Shares of Innovex International, Inc. (NYSE:INVX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in Innovex International, Inc. (NYSE:INVX - Free Report) by 84.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,733 shares of the company's stock after selling 37,295 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Innovex International were worth $121,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of INVX. Dimensional Fund Advisors LP raised its stake in Innovex International by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company's stock worth $27,107,000 after acquiring an additional 27,726 shares in the last quarter. Madison Avenue Partners LP raised its stake in Innovex International by 64.6% during the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock worth $23,560,000 after acquiring an additional 662,009 shares in the last quarter. Geode Capital Management LLC raised its stake in Innovex International by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 816,945 shares of the company's stock worth $11,416,000 after acquiring an additional 35,611 shares in the last quarter. Investment Management Associates Inc. ADV acquired a new position in Innovex International during the first quarter worth $6,937,000. Finally, Northern Trust Corp raised its stake in Innovex International by 8.3% during the fourth quarter. Northern Trust Corp now owns 384,077 shares of the company's stock worth $5,366,000 after acquiring an additional 29,535 shares in the last quarter.

Innovex International Trading Down 1.7%

INVX traded down $0.27 during midday trading on Friday, reaching $15.98. 51,306 shares of the company were exchanged, compared to its average volume of 407,461. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 4.60. Innovex International, Inc. has a one year low of $11.93 and a one year high of $19.42. The stock has a market capitalization of $1.10 billion, a P/E ratio of 5.53 and a beta of 0.79. The stock's 50-day simple moving average is $16.13 and its 200 day simple moving average is $16.14.

Innovex International (NYSE:INVX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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.

Analysts Set New Price Targets

Several analysts have recently commented on INVX shares. Wall Street Zen cut Innovex International from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Johnson Rice upgraded Innovex International to a "strong-buy" rating in a report on Friday, May 30th. Piper Sandler started coverage on Innovex International in a report on Tuesday, July 15th. They set an "overweight" rating and a $20.00 target price on the stock. Finally, Barclays decreased their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $16.50.

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.