Insider Selling: Innovex International (NYSE:INVX) Director Sells $162,601,375.00 in Stock

Innovex International, Inc. (NYSE:INVX) Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the transaction, the director owned 399 shares in the company, valued at approximately $9,811.41. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Innovex International Stock Down 1.0%

NYSE INVX opened at $26.39 on Monday. Innovex International, Inc. has a twelve month low of $11.93 and a twelve month high of $29.48. The stock has a market cap of $1.82 billion, a PE ratio of 21.99 and a beta of 0.75. The firm has a 50-day simple moving average of $24.48 and a 200 day simple moving average of $21.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.24 and a current ratio of 4.91.

Innovex International (NYSE:INVX) last issued 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). Innovex International had a net margin of 8.52% and a return on equity of 6.55%. The firm had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million.

Institutional Investors Weigh In On Innovex International

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in Innovex International in the first quarter valued at about $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 in the last quarter. Caxton Associates LLP bought a new position in shares of Innovex International in the first quarter valued at approximately $270,000. Empowered Funds LLC boosted its holdings in shares of Innovex International by 8.2% in the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after acquiring an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 worth $1,764,000 after acquiring an additional 10,401 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have issued reports on INVX shares. Piper Sandler boosted their price target on shares of Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings lowered shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.00.

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.