Brandes Investment Partners 13F: Cuts INVX Stake by $27M

Brandes Investment Partners has reduced its position in Innovex International, Inc. (NYSE:INVX) by 14% according to its latest 13F filing with the SEC, reflecting holdings as of the end of the reporting period. The firm sold 1,072,795 shares, bringing its total down to 6,583,415 shares, valued at approximately $193.9 million.

What Changed in Brandes Investment Partners's Innovex International Position

Brandes Investment Partners trimmed its holdings in Innovex International from 7,656,210 shares to 6,583,415 shares, a reduction of 1,072,795 shares or 14%. The reported value of this stake is about $193.9 million as of the filing period.

Other Institutional Activity in Innovex International

BlackRock, Inc. increased its holdings by 166,755 shares, ending with 6,037,314 shares valued at roughly $147.3 million. Wellington Management Group LLP made a substantial addition of 1,593,918 shares, bringing its total to 3,653,386 shares worth about $89.1 million. Vanguard Portfolio Management LLC entered a new position with 2,677,894 shares valued at approximately $65.3 million. Dimensional Fund Advisors LP added 335,839 shares, increasing its stake to 2,646,376 shares, valued at $64.5 million.

Innovex International, Inc. Stock Down 13.9%

Shares of Innovex International traded near $29.45 as of the latest update. The company has a market cap of approximately $2.02 billion, with a P/E ratio of 39.3 and a forward P/E of 15.4. Its 52-week range is between $14.65 and $32.25. The stock's 50-day moving average is $27.53, while the 200-day moving average is $23.41. Innovex has a current ratio of 5.10 and a quick ratio of 3.30, with a debt-to-equity ratio of 7.39.

Recent Earnings

Innovex International reported revenue of $976.9 million with a slight revenue decline of 0.6%. The company achieved a net margin of 5.31% and a return on equity of 5.16%. Earnings per share stood at $0.75. The next earnings report is scheduled for August 5, 2026.

Insider Buying and Selling at Innovex International, Inc.

Mark Reddout, President of North America, executed a planned sale of 10,750 shares on June 2, 2026, at an average price of $28.00. Earlier, on April 6, 2026, Reddout and CFO Kendal Reed each sold 3,349 shares at $24.79. CEO Adam Anderson also sold 8,929 shares on the same day at the same price.

Analysts Set New Price Targets

On June 8, 2026, Jefferies initiated coverage on Innovex International with a 'buy' rating and a $34 price target. Piper Sandler maintained its 'buy' rating with a $34 target on May 18, 2026. Barclays maintained a 'hold' rating with a $26 target on May 8, 2026. Citigroup initiated coverage with a 'buy' rating and a $35 target on May 7, 2026. Overall, the consensus recommendation is a 'buy' with a mean target price of $32.60 based on five analyst opinions.

About Innovex International

Innovex International, Inc., based in Humble, Texas, designs and manufactures critical products for the oil and gas industry. The company provides drilling enhancement tools, well production solutions, and subsea equipment for offshore applications. Innovex serves a global clientele of oil companies and service providers. Led by CEO Adam Anderson, the company employs around 2,160 people.

Bottom Line

Brandes Investment Partners' reduction in Innovex International's stake is a notable move in its portfolio adjustments. Innovex continues to attract institutional interest, as seen with other funds increasing their positions. Investors follow these filings to gauge institutional sentiment, though the data reflects past positions as of the filing date.