Mark Reddout Sells 10,000 Shares of Innovex International (NYSE:INVX) Stock

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider directly owned 124,312 shares of the company’s stock, valued at approximately $3,729,360. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Mark Reddout also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Reddout sold 10,750 shares of Innovex International stock. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00.

Innovex International Stock Performance

Shares of NYSE:INVX opened at $30.64 on Friday. Innovex International, Inc. has a 1 year low of $15.76 and a 1 year high of $33.71. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 34.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.38. The company’s 50 day simple moving average is $26.57 and its 200 day simple moving average is $26.34.

Innovex International (NYSE:INVX) last issued its earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The firm had revenue of $244.90 million for the quarter, compared to the consensus estimate of $241.58 million. As a group, research analysts predict that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Innovex International

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Innovex International in the 1st quarter worth about $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Innovex International by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after purchasing an additional 1,467 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Innovex International during the first quarter valued at about $270,000. Empowered Funds LLC grew its holdings in shares of Innovex International by 8.2% during the first quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after purchasing an additional 4,386 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Innovex International by 11.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock worth $1,764,000 after purchasing an additional 10,401 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Citigroup began coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 price objective on the stock. Barclays increased their target price on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Finally, Piper Sandler upped their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.