Glenmede Trust Co. NA Purchases New Shares in Innovex International, Inc. $INVX

Glenmede Trust Co. NA purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) in the first quarter, HoldingsChannel.com reports. The firm purchased 29,066 shares of the company’s stock, valued at approximately $709,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new position in Innovex International in the first quarter valued at $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Innovex International by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after buying an additional 1,467 shares during the period. Caxton Associates LLP purchased a new position in shares of Innovex International during the first quarter worth about $270,000. Empowered Funds LLC grew its holdings in shares of Innovex International by 8.2% during the first quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after buying an additional 4,386 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Innovex International by 11.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock valued at $1,764,000 after acquiring an additional 10,401 shares during the period.

Analyst Upgrades and Downgrades

INVX has been the subject of several analyst reports. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Piper Sandler lifted their target price on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Barclays boosted their target price on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Innovex International Stock Down 8.9%

Shares of NYSE:INVX opened at $27.96 on Friday. Innovex International, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $33.71. The company has a quick ratio of 3.38, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $26.60 and its 200-day simple moving average is $26.35. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 31.41 and a beta of 0.83.

Innovex International (NYSE:INVX) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $244.90 million during the quarter, compared to analysts’ expectations of $241.58 million. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. As a group, equities research analysts predict that Innovex International, Inc. will post 1.44 earnings per share for the current year.

Insider Transactions at Innovex International

In other Innovex International news, insider Mark Reddout sold 10,750 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00. Following the transaction, the insider owned 134,312 shares in the company, valued at approximately $3,760,736. The trade was a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 34.90% of the company’s stock.

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.