Insider Selling: Innovex International (NYSE:INVX) Director Sells 4,954,467 Shares

Innovex International, Inc. (NYSE:INVX) Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $142,242,747.57. Following the completion of the transaction, the director directly owned 311 shares in the company, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Innovex International Stock Performance

NYSE:INVX traded up $0.96 during trading on Monday, reaching $29.06. The company’s stock had a trading volume of 1,864,194 shares, compared to its average volume of 517,607. Innovex International, Inc. has a 12 month low of $15.76 and a 12 month high of $33.71. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 32.65 and a beta of 0.83. The firm has a 50 day moving average of $26.60 and a 200-day moving average of $26.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 5.01.

Innovex International (NYSE:INVX) last released its earnings results on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $244.90 million for the quarter, compared to analysts’ expectations of $241.58 million. Innovex International had a return on equity of 7.12% and a net margin of 6.17%. Research analysts expect that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Innovex International from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup began coverage on shares of Innovex International in a report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target on the stock. Barclays upped their price objective on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Innovex International has an average rating of “Moderate Buy” and a consensus target price of $32.25.

Institutional Investors Weigh In On Innovex International

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new position in Innovex International during the first quarter worth about $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after purchasing an additional 1,467 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Innovex International in the first quarter valued at approximately $270,000. Empowered Funds LLC lifted its stake in shares of Innovex International by 8.2% during the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock valued at $1,044,000 after buying an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Innovex International by 11.8% during 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 buying an additional 10,401 shares in the last quarter.

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.