Robertson Stephens Wealth Management LLC Decreases Stock Holdings in Innovex International, Inc. $INVX

Robertson Stephens Wealth Management LLC decreased its holdings in shares of Innovex International, Inc. (NYSE:INVX) by 9.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,313 shares of the company’s stock after selling 5,880 shares during the quarter. Robertson Stephens Wealth Management LLC owned about 0.08% of Innovex International worth $833,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of INVX. Wellington Management Group LLP raised its stake in shares of Innovex International by 755.9% in the first quarter. Wellington Management Group LLP now owns 1,020,266 shares of the company’s stock valued at $18,324,000 after acquiring an additional 901,066 shares during the period. Nuveen LLC purchased a new stake in shares of Innovex International in the first quarter valued at $7,089,000. Investment Management Associates Inc. ADV purchased a new stake in shares of Innovex International in the first quarter valued at $6,937,000. Invesco Ltd. raised its stake in shares of Innovex International by 36.6% in the first quarter. Invesco Ltd. now owns 454,050 shares of the company’s stock valued at $8,155,000 after acquiring an additional 121,582 shares during the period. Finally, Lesa Sroufe & Co purchased a new stake in shares of Innovex International in the first quarter valued at $1,558,000.

Innovex International Trading Down 5.9%

INVX stock opened at $17.22 on Friday. The company has a market capitalization of $1.18 billion, a PE ratio of 5.96 and a beta of 0.74. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $19.64. The firm’s 50-day moving average is $17.16 and its 200 day moving average is $16.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.60 and a quick ratio of 2.69.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on INVX. Weiss Ratings reissued a “hold (c+)” rating on shares of Innovex International in a research note on Wednesday. Wall Street Zen downgraded shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Piper Sandler initiated coverage on shares of Innovex International in a research note on Tuesday, July 15th. They issued an “overweight” rating and a $20.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Innovex International Company 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.