Investment Management Associates Inc. ADV Makes New $6.94 Million Investment in Innovex International, Inc. (NYSE:INVX)

Investment Management Associates Inc. ADV purchased a new position in Innovex International, Inc. (NYSE:INVX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 386,269 shares of the company's stock, valued at approximately $6,937,000. Innovex International accounts for about 2.8% of Investment Management Associates Inc. ADV's investment portfolio, making the stock its 13th biggest position. Investment Management Associates Inc. ADV owned about 0.56% of Innovex International at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INVX. Brandes Investment Partners LP grew its stake in Innovex International by 41.3% in the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock worth $88,068,000 after buying an additional 1,841,686 shares in the last quarter. Vanguard Group Inc. increased its stake in Innovex International by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock valued at $59,554,000 after acquiring an additional 221,598 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $27,107,000 after purchasing an additional 27,726 shares in the last quarter. Madison Avenue Partners LP lifted 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 purchasing an additional 662,009 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Innovex International by 1.9% during the fourth quarter. William Blair Investment Management LLC now owns 1,345,885 shares of the company's stock worth $18,802,000 after purchasing an additional 24,944 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INVX shares. Barclays reduced their price objective on Innovex International from $16.00 to $13.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th. Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a research report on Friday, May 30th. Finally, Wall Street Zen downgraded shares of Innovex International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th.

Innovex International Trading Down 0.3%

NYSE INVX traded down $0.05 during trading on Friday, hitting $16.22. 234,563 shares of the company's stock traded hands, compared to its average volume of 432,817. The stock has a fifty day moving average of $15.40 and a two-hundred day moving average of $16.04. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.42. The firm has a market cap of $1.12 billion, a P/E ratio of 6.19 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.34 and a quick ratio of 2.49.

Innovex International (NYSE:INVX - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). Innovex International had a net margin of 16.68% and a return on equity of 7.14%. The company had revenue of $240.42 million during the quarter, compared to the consensus estimate of $247.73 million.

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.