GeoSphere Capital Management LLC Takes Position in Innovex International, Inc. (NYSE:INVX)

GeoSphere Capital Management LLC purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,000 shares of the company’s stock, valued at approximately $2,794,000. Innovex International accounts for 1.3% of GeoSphere Capital Management LLC’s portfolio, making the stock its 12th biggest holding. GeoSphere Capital Management LLC owned 0.30% of Innovex International at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INVX. Brandes Investment Partners LP increased its holdings in shares of Innovex International by 41.3% in the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock valued at $88,068,000 after purchasing an additional 1,841,686 shares in the last quarter. Vanguard Group Inc. grew its position in Innovex International by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company’s stock worth $59,554,000 after buying an additional 221,598 shares during the period. Dimensional Fund Advisors LP grew its position in Innovex International by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company’s stock worth $27,107,000 after buying an additional 27,726 shares during the period. William Blair Investment Management LLC increased its holdings in Innovex International by 1.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,345,885 shares of the company’s stock valued at $18,802,000 after buying an additional 24,944 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Innovex International by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 816,945 shares of the company’s stock valued at $11,416,000 after acquiring an additional 35,611 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INVX. Pickering Energy Partners raised Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Barclays dropped their price target on Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday.

Innovex International Price Performance

Shares of NYSE INVX opened at $14.86 on Friday. The firm has a 50-day simple moving average of $16.44. The stock has a market capitalization of $1.03 billion, a P/E ratio of 10.54 and a beta of 0.80. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.80. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01.

Innovex International (NYSE:INVX) last posted its 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). The company had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $247.73 million. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

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.