Adam Anderson Sells 13,241 Shares of Innovex International (NYSE:INVX) Stock

Innovex International, Inc. (NYSE:INVX) CEO Adam Anderson sold 13,241 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $331,025.00. Following the transaction, the chief executive officer directly owned 498,822 shares in the company, valued at approximately $12,470,550. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Innovex International Stock Performance

NYSE INVX opened at $24.29 on Friday. The firm has a 50-day moving average price of $22.51 and a two-hundred day moving average price of $19.16. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $25.15. The company has a market capitalization of $1.67 billion, a P/E ratio of 16.52 and a beta of 0.74. The company has a quick ratio of 2.93, a current ratio of 4.78 and a debt-to-equity ratio of 0.02.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Innovex International by 52.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after acquiring an additional 837,027 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Innovex International during the fourth quarter valued at about $12,702,000. Brandes Investment Partners LP grew its holdings in shares of Innovex International by 7.7% during the second quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock worth $110,194,000 after purchasing an additional 504,935 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Innovex International by 371.9% in the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock valued at $5,376,000 after buying an additional 271,247 shares during the period. Finally, Investment Management Associates Inc. ADV raised its holdings in Innovex International by 65.8% in the 2nd quarter. Investment Management Associates Inc. ADV now owns 640,625 shares of the company’s stock valued at $10,007,000 after buying an additional 254,356 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INVX. Piper Sandler raised their price target 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 reissued a “buy (b-)” rating on shares of Innovex International in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

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.