William Blair Investment Management LLC Has $12.80 Million Position in Innovex International, Inc. $INVX

William Blair Investment Management LLC cut its position in Innovex International, Inc. (NYSE:INVX) by 11.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 585,375 shares of the company’s stock after selling 77,074 shares during the quarter. William Blair Investment Management LLC’s holdings in Innovex International were worth $12,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INVX. MQS Management LLC bought a new position in Innovex International during the 4th quarter worth $288,000. Global Retirement Partners LLC acquired a new position in shares of Innovex International in the fourth quarter valued at about $103,000. Covestor Ltd grew its stake in shares of Innovex International by 77.7% in the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after acquiring an additional 1,436 shares in the last quarter. Leuthold Group LLC bought a new position in Innovex International during the fourth quarter worth about $282,000. Finally, Simcoe Capital LLC bought a new position in Innovex International during the fourth quarter worth about $3,625,000.

Analysts Set New Price Targets

INVX has been the subject of a number of recent research reports. Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Piper Sandler raised their target price on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Barclays lifted their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Citigroup began coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Weiss Ratings downgraded Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.67.

Insider Activity at Innovex International

In related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director owned 399 shares in the company, valued at approximately $9,811.41. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of Innovex International stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares in the company, valued at $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 34.90% of the stock is currently owned by insiders.

Innovex International Stock Down 0.2%

INVX stock opened at $30.00 on Tuesday. Innovex International, Inc. has a 52 week low of $13.44 and a 52 week high of $32.25. The business has a 50-day simple moving average of $26.52 and a 200 day simple moving average of $24.73. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.06 billion, a PE ratio of 40.00 and a beta of 0.84.

Innovex International (NYSE:INVX) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). Innovex International had a return on equity of 6.72% and a net margin of 5.31%.The firm had revenue of $273.60 million for the quarter, compared to analyst estimates of $240.00 million. Sell-side analysts anticipate that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.

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.