Heartland Advisors Inc. Acquires 100,000 Shares of Innovex International, Inc. $INVX

Heartland Advisors Inc. lifted its stake in Innovex International, Inc. (NYSE:INVX) by 50.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. Heartland Advisors Inc.’s holdings in Innovex International were worth $6,561,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings 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 purchasing an additional 837,027 shares during the last quarter. SG Americas Securities LLC bought a new position in Innovex International during the fourth quarter worth about $12,702,000. Bridgeway Capital Management LLC boosted its holdings in 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 buying an additional 271,247 shares during the last quarter. Avidian Wealth Enterprises LLC acquired a new position in shares of Innovex International during the 4th quarter worth about $5,821,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Innovex International by 12.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock worth $39,921,000 after buying an additional 230,393 shares during the period.

Wall Street Analyst Weigh In

INVX has been the topic of a number of analyst reports. Zacks Research upgraded shares of Innovex International from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings cut shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Citigroup initiated coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price for the company. Jefferies Financial Group began coverage on shares of Innovex International in a report on Monday. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Piper Sandler lifted their price target on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

Insider Activity

In related news, insider Mark Reddout sold 10,750 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00. Following the completion of the sale, the insider directly owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 34.90% of the company’s stock.

Innovex International Trading Up 1.1%

NYSE INVX opened at $28.73 on Thursday. The firm has a market cap of $1.98 billion, a P/E ratio of 38.31 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.10 and a quick ratio of 3.38. The stock’s 50-day moving average is $27.32 and its 200-day moving average is $25.32. Innovex International, Inc. has a one year low of $14.65 and a one year high of $32.25.

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.