Innovex International, Inc. $INVX Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in Innovex International, Inc. (NYSE:INVX) by 14.5% during the 2nd quarter, Holdings Channel reports. The firm owned 879,677 shares of the company’s stock after selling 148,989 shares during the quarter. Van ECK Associates Corp’s holdings in Innovex International were worth $21,816,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Freestone Grove Partners LP purchased a new position in shares of Innovex International during the 2nd quarter worth approximately $43,000. Strs Ohio acquired a new position in shares of Innovex International during the 4th quarter worth approximately $44,000. USA Financial Formulas purchased a new stake in Innovex International in the 1st quarter valued at approximately $53,000. Aster Capital Management DIFC Ltd purchased a new stake in Innovex International in the 4th quarter valued at approximately $55,000. Finally, Tower Research Capital LLC TRC grew its holdings in Innovex International by 418.1% during the 2nd 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.

Innovex International Stock Performance

Shares of INVX opened at $30.10 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 5.01. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 33.82 and a beta of 0.83. The company’s 50 day simple moving average is $27.24 and its 200 day simple moving average is $26.85. Innovex International, Inc. has a 1 year low of $16.29 and a 1 year high of $33.71.

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

Analysts Set New Price Targets

INVX has been the subject of several recent research reports. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Zacks Research downgraded Innovex International from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Citigroup increased their price objective on Innovex International from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Finally, Wall Street Zen cut Innovex International from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Innovex International has an average rating of “Moderate Buy” and a consensus target price of $32.75.

Insiders Place Their Bets

In other Innovex International news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $28.71, for a total transaction of $143,550,000.00. Following the transaction, the director owned 311 shares of the company’s stock, valued at $8,928.81. This represents a 99.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the sale, the insider owned 134,312 shares in the company, valued at $3,760,736. This trade represents a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,975,217 shares of company stock valued at $286,393,748 in the last quarter. 34.90% of the stock is currently owned by company insiders.

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.