Innovex International (INVX) Projected to Post Quarterly Earnings on Monday

Innovex International (NYSE:INVX) is projected to announce its results after the market closes on Monday, February 23rd. Analysts expect the company to announce earnings of $0.29 per share and revenue of $240.00 million for the quarter.

Innovex International Stock Up 0.6%

NYSE:INVX opened at $24.80 on Monday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 16.87 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.93 and a current ratio of 4.78. The stock’s fifty day moving average price is $23.68 and its two-hundred day moving average price is $20.45. Innovex International has a 52-week low of $11.93 and a 52-week high of $26.65.

Insider Buying and Selling at Innovex International

In related news, insider Mark Reddout sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the sale, the insider owned 129,436 shares of the company’s stock, valued at approximately $3,235,900. This trade represents a 13.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Anderson sold 13,241 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $331,025.00. Following the completion of the transaction, the chief executive officer directly owned 498,822 shares of the company’s stock, valued at approximately $12,470,550. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after buying an additional 2,843 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Innovex International by 2,334.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,868 shares of the company’s stock valued at $106,000 after acquiring an additional 4,668 shares in the last quarter. Polymer Capital Management US LLC bought a new stake in Innovex International in the 3rd quarter valued at $197,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Innovex International in the 4th quarter worth $209,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Innovex International during the 4th quarter worth about $213,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INVX shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. Piper Sandler lifted their target price on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.