Strs Ohio Raises Position in Innovex International, Inc. $INVX

Strs Ohio increased its stake in Innovex International, Inc. (NYSE:INVX) by 1,265.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,300 shares of the company’s stock after buying an additional 25,300 shares during the quarter. Strs Ohio’s holdings in Innovex International were worth $666,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of INVX. Wellington Management Group LLP grew its position in Innovex International by 52.4% in the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after acquiring an additional 837,027 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Innovex International during the fourth quarter valued at approximately $12,702,000. Bridgeway Capital Management LLC lifted its position in shares of Innovex International by 371.9% during the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock worth $5,376,000 after purchasing an additional 271,247 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new position in shares of Innovex International during the fourth quarter worth $5,821,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Innovex International by 12.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock valued at $39,921,000 after purchasing an additional 230,393 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INVX shares. Zacks Research raised shares of Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th. Piper Sandler upped their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings downgraded Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Barclays raised their target price on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $32.25.

Insider Activity

In related news, insider Mark Reddout sold 10,750 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total value of $301,000.00. Following the sale, the insider directly owned 134,312 shares of the company’s stock, valued at $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 34.90% of the company’s stock.

Innovex International Stock Performance

Innovex International stock opened at $25.11 on Thursday. The stock has a market cap of $1.73 billion, a P/E ratio of 33.48 and a beta of 0.83. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $27.18 and a 200-day moving average of $25.74. Innovex International, Inc. has a 52 week low of $14.65 and a 52 week high of $32.25.

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.