Invesco Ltd. Raises Stake in Innovex International, Inc. $INVX

Key Points

• Invesco Ltd. increased its stake in Innovex International by 36.6%, acquiring an additional 121,582 shares to reach a total of 454,050 shares, valued at approximately $8.15 million.
• Several other institutional investors significantly raised their holdings in Innovex International, with US Bancorp DE increasing its stake by 234% during the first quarter.
• After reporting earnings of $0.28 EPS for the last quarter, Innovex's stock has had fluctuating ratings from analysts, including a downgrade from Wall Street Zen to "hold" and an upgraded "strong-buy" rating from Johnson Rice.

Invesco Ltd. raised its stake in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 36.6% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 454,050 shares of the company's stock after purchasing an additional 121,582 shares during the period. Invesco Ltd. owned approximately 0.66% of Innovex International worth $8,155,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in INVX. Madison Avenue Partners LP boosted its stake in Innovex International by 64.6% during the 4th quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock valued at $23,560,000 after purchasing an additional 662,009 shares during the last quarter. Investment Management Associates Inc. ADV purchased a new position in shares of Innovex International in the 1st quarter worth approximately $6,937,000. GeoSphere Capital Management LLC purchased a new position in shares of Innovex International in the 4th quarter worth approximately $2,794,000. Lighthouse Investment Partners LLC purchased a new position in shares of Innovex International in the 4th quarter worth approximately $2,724,000. Finally, Jane Street Group LLC boosted its stake in shares of Innovex International by 325.4% in the 4th quarter. Jane Street Group LLC now owns 177,512 shares of the company's stock worth $2,480,000 after buying an additional 135,780 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Innovex International Stock Performance

Innovex International stock traded up $0.01 during trading on Friday, hitting $17.24. The stock had a trading volume of 259,313 shares, compared to its average volume of 355,927. Innovex International, Inc. has a 1 year low of $11.93 and a 1 year high of $19.42. The company has a quick ratio of 2.69, a current ratio of 4.60 and a debt-to-equity ratio of 0.03. The stock's 50 day moving average is $16.22 and its two-hundred day moving average is $16.18. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 5.97 and a beta of 0.79.

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

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.