Renaissance Technologies LLC Sells 24,700 Shares of Innovex International, Inc. (NYSE:INVX)

Renaissance Technologies LLC reduced its position in Innovex International, Inc. (NYSE:INVX) by 32.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,059 shares of the company’s stock after selling 24,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of Innovex International worth $727,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of INVX. Brandes Investment Partners LP lifted its holdings in Innovex International by 41.3% in the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock valued at $88,068,000 after buying an additional 1,841,686 shares during the period. Vanguard Group Inc. lifted its stake in shares of Innovex International by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company’s stock valued at $59,554,000 after purchasing an additional 221,598 shares during the period. Invesco Ltd. lifted its stake in shares of Innovex International by 175.8% in the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company’s stock valued at $4,645,000 after purchasing an additional 211,907 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Innovex International during the 3rd quarter valued at about $2,383,000. Finally, JPMorgan Chase & Co. acquired a new stake in Innovex International during the third quarter worth approximately $2,261,000.

Innovex International Price Performance

Shares of INVX opened at $15.36 on Friday. Innovex International, Inc. has a one year low of $12.54 and a one year high of $19.80. The firm has a market cap of $1.07 billion, a P/E ratio of 10.89 and a beta of 0.78. The company has a 50-day moving average price of $16.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87.

Innovex International (NYSE:INVX) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $250.69 million during the quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on INVX shares. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Barclays boosted their target price on shares of Innovex International from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, March 5th.

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.