Wellington Management Group LLP Invests $1.67 Million in Innovex International, Inc. (NYSE:INVX)

Wellington Management Group LLP acquired a new position in Innovex International, Inc. (NYSE:INVX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 119,200 shares of the company's stock, valued at approximately $1,665,000. Wellington Management Group LLP owned approximately 0.17% of Innovex International at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brandes Investment Partners LP raised its stake in Innovex International by 41.3% in the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock valued at $88,068,000 after buying an additional 1,841,686 shares during the last quarter. Madison Avenue Partners LP raised its position in shares of Innovex International by 64.6% in 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. Vanguard Group Inc. boosted its stake in Innovex International by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock worth $59,554,000 after purchasing an additional 221,598 shares in the last quarter. Invesco Ltd. boosted its stake in Innovex International by 175.8% in the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock worth $4,645,000 after purchasing an additional 211,907 shares in the last quarter. Finally, GeoSphere Capital Management LLC purchased a new stake in Innovex International during the 4th quarter worth approximately $2,794,000.

Analyst Ratings Changes

A number of research firms recently commented on INVX. Barclays decreased their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Wall Street Zen upgraded shares of Innovex International from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a research note on Friday, May 30th.

Innovex International Stock Performance

Shares of NYSE INVX traded up $0.44 during trading on Monday, reaching $16.01. 332,617 shares of the company traded hands, compared to its average volume of 405,386. The stock has a market cap of $1.10 billion, a P/E ratio of 11.35 and a beta of 0.79. The firm's fifty day simple moving average is $15.08 and its 200 day simple moving average is $15.80. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.42.

Innovex International (NYSE:INVX - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $240.42 million during the quarter, compared to analysts' expectations of $247.73 million. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

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.