Northern Trust Corp Purchases 29,535 Shares of Innovex International, Inc. (NYSE:INVX)

Northern Trust Corp lifted its stake in Innovex International, Inc. (NYSE:INVX) by 8.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,077 shares of the company’s stock after purchasing an additional 29,535 shares during the period. Northern Trust Corp owned 0.57% of Innovex International worth $5,366,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amalgamated Bank increased its stake in shares of Innovex International by 6.2% in the 4th quarter. Amalgamated Bank now owns 10,853 shares of the company’s stock worth $152,000 after purchasing an additional 630 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Innovex International by 9.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company’s stock worth $124,000 after purchasing an additional 758 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Innovex International by 9.0% in the 4th quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company’s stock worth $177,000 after purchasing an additional 1,047 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Innovex International by 5.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 20,878 shares of the company’s stock worth $292,000 after purchasing an additional 1,149 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Innovex International by 3.3% in the 4th quarter. Prudential Financial Inc. now owns 38,001 shares of the company’s stock worth $531,000 after purchasing an additional 1,200 shares in the last quarter.

Innovex International Price Performance

NYSE:INVX opened at $14.81 on Wednesday. Innovex International, Inc. has a one year low of $11.93 and a one year high of $19.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 10.50 and a beta of 0.80. The business has a fifty day moving average of $16.03.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The business had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $247.73 million.

Analyst Upgrades and Downgrades

Separately, Barclays reduced their price objective on Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a research note on Friday, May 9th.

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.