Insider Selling: Innovex International (NYSE:INVX) CEO Sells 13,241 Shares of Stock

Innovex International, Inc. (NYSE:INVX) CEO Adam Anderson sold 13,241 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total value of $331,025.00. Following the completion of the transaction, the chief executive officer directly owned 498,822 shares of the company’s stock, valued at approximately $12,470,550. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Innovex International Stock Performance

Shares of NYSE INVX traded up $0.02 during trading on Thursday, reaching $24.30. 450,593 shares of the company traded hands, compared to its average volume of 371,469. The firm has a 50 day simple moving average of $22.32 and a 200-day simple moving average of $19.06. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $25.15. The stock has a market capitalization of $1.67 billion, a PE ratio of 16.53 and a beta of 0.74. The company has a quick ratio of 2.93, a current ratio of 4.78 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.09). Innovex International had a net margin of 10.59% and a return on equity of 8.51%. The company had revenue of $240.00 million for the quarter, compared to analysts’ expectations of $235.00 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd increased its stake in shares of Innovex International by 26,300.0% in the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after purchasing an additional 511 shares during the period. First Horizon Advisors Inc. grew its holdings in Innovex International by 150.3% during the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after purchasing an additional 2,022 shares during the period. Westfuller Advisors LLC purchased a new stake in Innovex International in the third quarter worth about $53,000. Finally, Tower Research Capital LLC TRC raised its stake 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 worth $55,000 after buying an additional 2,843 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INVX shares. Weiss Ratings restated a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. Piper Sandler raised their target price on Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.00.

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.