Fisher Asset Management LLC Increases Stock Position in Innovex International, Inc. $INVX

Fisher Asset Management LLC increased its holdings in Innovex International, Inc. (NYSE:INVX) by 69.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,887 shares of the company’s stock after acquiring an additional 93,412 shares during the quarter. Fisher Asset Management LLC owned approximately 0.33% of Innovex International worth $4,244,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of INVX. Covestor Ltd grew its position in Innovex International by 26,300.0% during the 3rd 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 last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after buying an additional 511 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of 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 acquired a new position in Innovex International in the 3rd quarter valued at about $53,000. Finally, Tower Research Capital LLC TRC raised its stake in Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after acquiring an additional 2,843 shares during the last quarter.

Innovex International Stock Up 2.5%

Innovex International stock opened at $26.94 on Friday. The stock’s 50 day moving average price is $24.82 and its 200 day moving average price is $21.38. Innovex International, Inc. has a 1-year low of $11.93 and a 1-year high of $29.48. The company has a market cap of $1.86 billion, a PE ratio of 22.45 and a beta of 0.72. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24.

Innovex International (NYSE:INVX) last released its earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The business 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%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays lifted their target price on Innovex International from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday. Weiss Ratings lowered shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Finally, Piper Sandler boosted their price objective on shares of Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

Insider Activity at Innovex International

In related news, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director owned 399 shares of the company’s stock, valued at approximately $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares of the company’s stock, valued at approximately $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,290,319 shares of company stock worth $326,928,137 over the last three months. 43.90% of the stock is currently owned by company insiders.

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.