Innovex International, Inc. $INVX Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its position in Innovex International, Inc. (NYSE:INVX) by 44.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 662,449 shares of the company’s stock after selling 533,049 shares during the quarter. William Blair Investment Management LLC’s holdings in Innovex International were worth $12,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its stake in shares of Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after buying an additional 511 shares during the last quarter. Lesa Sroufe & Co lifted its holdings in Innovex International by 0.5% during the 3rd quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock worth $2,132,000 after buying an additional 561 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Innovex International by 4.4% in the 2nd quarter. Intech Investment Management LLC now owns 23,452 shares of the company’s stock worth $366,000 after acquiring an additional 978 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Innovex International by 10.9% in the 3rd quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock valued at $208,000 after acquiring an additional 1,104 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Innovex International by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after acquiring an additional 1,467 shares during the last quarter.

Insider Activity

In other Innovex International news, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the business’s stock in a transaction dated 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 $9,811.41. The trade was a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider owned 129,436 shares in the company, valued at $3,235,900. The trade was a 13.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,290,319 shares of company stock worth $326,928,137 over the last ninety days. Insiders own 43.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings cut Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Piper Sandler increased 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 equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Innovex International Stock Up 0.6%

Shares of Innovex International stock opened at $26.51 on Tuesday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 22.09 and a beta of 0.72. Innovex International, Inc. has a twelve month low of $11.93 and a twelve month high of $29.48. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02. The business’s 50 day simple moving average is $24.57 and its 200-day simple moving average is $21.24.

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

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.