William Blair Investment Management LLC Sells 98,857 Shares of Innovex International, Inc. $INVX

William Blair Investment Management LLC cut its stake in Innovex International, Inc. (NYSE:INVX) by 7.6% in the 2nd quarter, Holdings Channel reports. The firm owned 1,195,498 shares of the company’s stock after selling 98,857 shares during the period. William Blair Investment Management LLC’s holdings in Innovex International were worth $18,674,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Innovex International by 234.0% in the 1st quarter. US Bancorp DE now owns 1,533 shares of the company’s stock worth $28,000 after acquiring an additional 1,074 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Innovex International by 169.7% in the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company’s stock worth $38,000 after acquiring an additional 1,322 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Innovex International by 264.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,375 shares of the company’s stock worth $60,000 after acquiring an additional 2,450 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Innovex International by 15.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock worth $106,000 after acquiring an additional 794 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Innovex International in the 1st quarter worth about $223,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innovex International in a research note on Wednesday, October 8th. Finally, Piper Sandler assumed coverage on shares of Innovex International in a research note on Tuesday, July 15th. They issued an “overweight” rating and a $20.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Innovex International Stock Down 1.4%

NYSE:INVX opened at $17.51 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of 6.06 and a beta of 0.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 4.60. Innovex International, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $19.64. The firm has a 50-day simple moving average of $17.31 and a two-hundred day simple moving average of $16.16.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) earnings per share for the quarter. The firm had revenue of $87.23 million for the quarter. Innovex International had a net margin of 16.66% and a return on equity of 8.58%.

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.