Innovex International (NYSE:INVX) Insider Sells $500,000.00 in Stock

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were 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 $3,235,900. This represents a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Innovex International Trading Up 0.1%

Innovex International stock traded up $0.02 during trading hours on Thursday, reaching $24.30. The stock had a trading volume of 450,593 shares, compared to its average volume of 371,469. The stock has a market cap of $1.67 billion, a PE ratio of 16.53 and a beta of 0.74. Innovex International, Inc. has a 52 week low of $11.93 and a 52 week high of $25.15. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93. The company has a fifty day simple moving average of $22.32 and a 200-day simple moving average of $19.06.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). The firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $235.00 million. Innovex International had a net margin of 10.59% and a return on equity of 8.51%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INVX. Piper Sandler lifted their price objective on 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 reaffirmed a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INVX. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Innovex International by 46.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 16,466 shares of the company’s stock valued at $360,000 after purchasing an additional 5,248 shares during the period. SG Americas Securities LLC bought a new position in Innovex International in the fourth quarter worth $12,702,000. JPMorgan Chase & Co. lifted its position in Innovex International by 23.2% during the third quarter. JPMorgan Chase & Co. now owns 30,008 shares of the company’s stock valued at $556,000 after buying an additional 5,643 shares during the period. Polymer Capital Management US LLC purchased a new position in Innovex International during the third quarter valued at $197,000. Finally, Numerai GP LLC bought a new stake in shares of Innovex International during the 3rd quarter valued at $282,000.

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.