Innovex International (NYSE:INVX) Releases Earnings Results

Innovex International (NYSE:INVX) announced its quarterly earnings data on Monday. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05, FiscalAI reports. Innovex International had a net margin of 5.31% and a return on equity of 6.72%. The company had revenue of $244.90 million for the quarter, compared to the consensus estimate of $241.58 million.

Innovex International Stock Performance

NYSE INVX traded up $0.26 during trading hours on Monday, hitting $28.34. The company had a trading volume of 401,516 shares, compared to its average volume of 483,776. The business has a 50 day moving average of $26.43 and a 200-day moving average of $26.17. The company has a market cap of $1.95 billion, a PE ratio of 37.79 and a beta of 0.83. Innovex International has a 1-year low of $15.60 and a 1-year high of $32.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10.

Insider Buying and Selling at Innovex International

In related news, insider Mark Reddout sold 10,750 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the completion of the sale, the insider directly owned 134,312 shares of the company’s stock, valued at $3,760,736. This represents a 7.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 34.90% of the company’s stock.

Hedge Funds Weigh In On Innovex International

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in Innovex International during the 4th quarter worth $55,000. Tower Research Capital LLC TRC raised its holdings in shares of Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after buying an additional 2,843 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Innovex International by 2,334.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,868 shares of the company’s stock valued at $106,000 after buying an additional 4,668 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Innovex International during the fourth quarter worth about $209,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Innovex International during the fourth quarter worth about $213,000.

Wall Street Analyst Weigh In

INVX has been the subject of a number of analyst reports. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Barclays raised their price target on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup initiated coverage on Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Piper Sandler increased their price objective on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.25.

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.