Innovex International (INVX) to Release Quarterly Earnings on Monday

Innovex International (NYSE:INVX) will likely be posting its results after the market closes on Monday, February 23rd. Analysts expect Innovex International to post earnings of $0.29 per share and revenue of $240.00 million for the quarter.

Innovex International Price Performance

Innovex International stock opened at $25.45 on Friday. The business’s 50 day simple moving average is $23.90 and its 200 day simple moving average is $20.70. Innovex International has a 12 month low of $11.93 and a 12 month high of $26.65. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 17.31 and a beta of 0.75. The company has a current ratio of 4.78, a quick ratio of 2.93 and a debt-to-equity ratio of 0.02.

Insider Transactions at Innovex International

In other news, CEO Adam Anderson sold 13,241 shares of the 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 sale, the chief executive officer directly owned 498,822 shares of the company’s stock, valued at approximately $12,470,550. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Reddout sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 129,436 shares of the company’s stock, valued at $3,235,900. This trade represents a 13.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 43.90% of the company’s stock.

Institutional Trading of Innovex International

Several institutional investors and hedge funds have recently bought and sold shares of INVX. Wellington Management Group LLP grew its position in shares of Innovex International by 52.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after purchasing an additional 837,027 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in Innovex International by 371.9% during 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. Dimensional Fund Advisors LP grew its position in Innovex International by 12.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock worth $39,921,000 after buying an additional 230,393 shares in the last quarter. Gendell Jeffrey L increased its stake in Innovex International by 103.0% in the 4th quarter. Gendell Jeffrey L now owns 392,311 shares of the company’s stock worth $8,580,000 after acquiring an additional 199,099 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Innovex International in the 2nd quarter valued at about $2,871,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th. Piper Sandler lifted their price objective on 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 assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Innovex International presently has an average rating of “Moderate Buy” and an average price target 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.