Vanguard Group Inc. Purchases 43,343 Shares of Innovex International, Inc. $INVX

Key Points

• Vanguard Group Inc. increased its stake in Innovex International by 1.0%, acquiring an additional 43,343 shares, and now owns approximately 4.3 million shares valued at $77.34 million.
• Several hedge funds have recently modified their holdings in Innovex International, with US Bancorp DE increasing its position by 234%.
• Equities analysts have mixed ratings for Innovex International, with a consensus rating of "Buy" and a target price of $16.50, while Piper Sandler set an "overweight" rating with a target of $20.00.

Vanguard Group Inc. lifted its stake in Innovex International, Inc. (NYSE:INVX - Free Report) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,306,348 shares of the company's stock after acquiring an additional 43,343 shares during the quarter. Vanguard Group Inc. owned approximately 6.21% of Innovex International worth $77,342,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in INVX. Madison Avenue Partners LP grew its position 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 buying an additional 662,009 shares in the last quarter. Investment Management Associates Inc. ADV bought a new position in shares of Innovex International in the 1st quarter worth about $6,937,000. Invesco Ltd. grew its stake in shares of Innovex International by 175.8% in the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock valued at $4,645,000 after buying an additional 211,907 shares during the period. GeoSphere Capital Management LLC bought a new position in shares of Innovex International during the 4th quarter worth approximately $2,794,000. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Innovex International in the 4th quarter worth approximately $2,724,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a research report on Friday, May 30th. Wall Street Zen downgraded shares of Innovex International from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Piper Sandler initiated coverage on shares of Innovex International in a report on Tuesday, July 15th. They issued an "overweight" rating and a $20.00 target price on the stock. Finally, Barclays reduced their price target 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. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $16.50.

Innovex International Price Performance

Shares of INVX traded up $0.35 during trading hours on Thursday, reaching $16.99. The company had a trading volume of 218,894 shares, compared to its average volume of 403,308. The company has a current ratio of 4.60, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $16.18. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.42. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 5.88 and a beta of 0.79.

Innovex International (NYSE:INVX - Get Free Report) last released 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 business had revenue of $224.23 million for the quarter, compared to analysts' expectations of $230.00 million. Innovex International had a net margin of 16.66% and a return on equity of 8.58%. 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.