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

Innovex International, Inc. (NYSE:INVX) Director Amberjack Capital Partners, L. 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 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 represents a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Innovex International Price Performance

Shares of NYSE:INVX opened at $26.39 on Monday. The company has a market cap of $1.82 billion, a P/E ratio of 21.99 and a beta of 0.75. The business has a fifty day simple moving average of $24.48 and a 200-day simple moving average of $21.17. Innovex International, Inc. has a 52 week low of $11.93 and a 52 week high of $29.48. The company has a quick ratio of 3.24, a current ratio of 4.91 and a debt-to-equity ratio of 0.02.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler upped 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. Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Hedge Funds Weigh In On Innovex International

A number of institutional investors have recently added to or reduced their stakes in INVX. Covestor Ltd lifted its position in shares of Innovex International by 26,300.0% in the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after buying an additional 1,841 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Innovex International by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the last quarter. Strs Ohio acquired a new position in Innovex International in the fourth quarter valued at approximately $44,000. First Horizon Advisors Inc. boosted its stake in Innovex International by 150.3% in the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after acquiring an additional 2,022 shares during the period. Finally, Westfuller Advisors LLC bought a new position in shares of Innovex International during the third quarter valued at approximately $53,000.

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.