William Blair Investment Management LLC Invests $11.49 Million in Innovex International, Inc. $INVX

William Blair Investment Management LLC purchased a new stake in shares of Innovex International, Inc. (NYSE:INVX) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 463,385 shares of the company’s stock, valued at approximately $11,492,000.

Other large investors have also recently added to or reduced their stakes in the company. Simcoe Capital LLC acquired a new stake in Innovex International during the fourth quarter worth $3,625,000. Hussman Strategic Advisors Inc. purchased a new stake in Innovex International in the fourth quarter valued at $919,000. Royce & Associates LP acquired a new position in shares of Innovex International in the 4th quarter valued at $415,000. Avidian Wealth Enterprises LLC acquired a new position in shares of Innovex International in the 4th quarter valued at $5,821,000. Finally, Sei Investments Co. grew its holdings in shares of Innovex International by 70.5% during the 1st quarter. Sei Investments Co. now owns 126,288 shares of the company’s stock worth $3,080,000 after purchasing an additional 52,218 shares during the period.

Insider Activity at Innovex International

In other Innovex International news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $143,550,000.00. Following the sale, the director directly owned 311 shares in the company, valued at $8,928.81. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Reddout sold 10,750 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00. Following the sale, the insider directly owned 134,312 shares in the company, valued at $3,760,736. This represents a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,975,217 shares of company stock worth $286,393,748 in the last three months. 34.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INVX. Piper Sandler raised their price objective on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup started coverage on shares of Innovex International in a research report on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price on the stock. Barclays increased their target price on shares of Innovex International from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Innovex International currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Innovex International Trading Up 0.6%

INVX opened at $29.32 on Friday. Innovex International, Inc. has a 52 week low of $16.29 and a 52 week high of $33.71. The business has a fifty day simple moving average of $26.97 and a 200-day simple moving average of $26.69. The firm has a market cap of $2.05 billion, a P/E ratio of 32.94 and a beta of 0.83. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $244.90 million during 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%. On average, equities analysts expect that Innovex International, Inc. will post 1.44 earnings per share for the current year.

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.