Vanguard Group Inc. Has $88.93 Million Stock Holdings in Innovex International, Inc. $INVX

Vanguard Group Inc. lowered its stake in Innovex International, Inc. (NYSE:INVX) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,796,516 shares of the company’s stock after selling 81,587 shares during the quarter. Vanguard Group Inc. owned about 6.97% of Innovex International worth $88,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd grew its stake in shares of Innovex International by 26,300.0% during the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares during the period. Smartleaf Asset Management LLC lifted its stake in Innovex International by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after buying an additional 511 shares during the period. First Horizon Advisors Inc. boosted its holdings in Innovex International by 150.3% during the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock worth $53,000 after buying an additional 2,022 shares during the last quarter. Westfuller Advisors LLC bought a new position in Innovex International during the third quarter worth about $53,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after buying an additional 2,843 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INVX. Zacks Research downgraded shares of Innovex International from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Barclays upped their target price on shares of Innovex International from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler lifted their price target on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings downgraded Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.50.

Insider Transactions at Innovex International

In related news, CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the sale, the chief executive officer owned 466,744 shares of the company’s stock, valued at approximately $13,302,204. This trade represents a 3.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director owned 399 shares in the company, valued at $9,811.41. The trade was a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,290,319 shares of company stock worth $326,928,137 in the last 90 days. 43.90% of the stock is owned by corporate insiders.

Innovex International Price Performance

Shares of NYSE INVX opened at $26.94 on Friday. The company has a fifty day moving average price of $24.82 and a 200 day moving average price of $21.38. The firm has a market cap of $1.86 billion, a PE ratio of 22.45 and a beta of 0.72. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 1-year low of $11.93 and a 1-year high of $29.48.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). The firm had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million. Innovex International had a net margin of 8.52% and a return on equity of 6.55%.

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.