Fisher Asset Management LLC Raises Stake in Innovex International, Inc. (NYSE:INVX)

Fisher Asset Management LLC increased its stake in Innovex International, Inc. (NYSE:INVX) by 18.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,624 shares of the company’s stock after buying an additional 53,930 shares during the period. Fisher Asset Management LLC owned 0.52% of Innovex International worth $4,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division purchased a new position in Innovex International during the fourth quarter valued at approximately $63,000. Oregon Public Employees Retirement Fund boosted its position in Innovex International by 9.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company’s stock valued at $124,000 after acquiring an additional 758 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Innovex International by 6.2% in the 4th quarter. Amalgamated Bank now owns 10,853 shares of the company’s stock valued at $152,000 after acquiring an additional 630 shares during the period. D.A. Davidson & CO. bought a new position in shares of Innovex International in the 4th quarter worth $193,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Innovex International during the 4th quarter worth $234,000.

Wall Street Analyst Weigh In

INVX has been the topic of several analyst reports. Barclays cut their target price on Innovex International from $21.00 to $15.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 26th. Pickering Energy Partners raised shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th.

Innovex International Trading Down 1.4 %

Shares of INVX opened at $17.00 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 12.06 and a beta of 0.89. Innovex International, Inc. has a 12 month low of $12.54 and a 12 month high of $25.19. The firm’s fifty day simple moving average is $16.07.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The company had revenue of $250.69 million during the quarter.

Insider Activity at Innovex International

In related news, CFO Kendal Reed purchased 3,765 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $13.28 per share, with a total value of $49,999.20. Following the completion of the acquisition, the chief financial officer now owns 186,232 shares in the company, valued at approximately $2,473,160.96. This represents a 2.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 3.10% of the stock is currently owned by insiders.

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.