Innovex International, Inc. $INVX Stake Lessened by GeoSphere Capital Management LLC

GeoSphere Capital Management LLC lowered its holdings in Innovex International, Inc. (NYSE:INVX) by 50.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 50,000 shares of the company’s stock after selling 50,000 shares during the period. GeoSphere Capital Management LLC’s holdings in Innovex International were worth $1,094,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INVX. AQR Capital Management LLC purchased a new stake in shares of Innovex International in the first quarter valued at $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after purchasing an additional 1,467 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Innovex International during the first quarter worth $270,000. Empowered Funds LLC raised its holdings in shares of Innovex International by 8.2% during the first quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after acquiring an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Innovex International by 11.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock worth $1,764,000 after acquiring an additional 10,401 shares in the last quarter.

Innovex International Price Performance

Shares of NYSE:INVX opened at $30.00 on Monday. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 1 year low of $13.44 and a 1 year high of $32.25. The business has a fifty day simple moving average of $26.40 and a 200 day simple moving average of $24.66. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 40.00 and a beta of 0.84.

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

Analysts Set New Price Targets

Several analysts recently issued reports on INVX shares. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup started coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Zacks Research upgraded Innovex International from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Piper Sandler increased their price objective on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Barclays increased their price objective on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Innovex International presently has an average rating of “Moderate Buy” and an average target price of $31.67.

Insiders Place Their Bets

In other Innovex International news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction 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 transaction, the director directly owned 399 shares of the company’s stock, valued at $9,811.41. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the transaction, the director directly owned 399 shares in the company, valued at $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,243,837 shares of company stock valued at $325,739,605 over the last three months. 34.90% of the stock is currently owned by insiders.

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.