Innovex International (NYSE:INVX) Director Co-Invest Fund L.P. Innovex Sells 6,612,500 Shares

Innovex International, Inc. (NYSE:INVX) Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the transaction, the director owned 399 shares of the company’s stock, valued at $9,811.41. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Innovex International Stock Performance

INVX opened at $26.39 on Friday. The firm’s fifty day simple moving average is $24.48 and its two-hundred day simple moving average is $21.10. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $29.48. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 21.99 and a beta of 0.75. The company has a quick ratio of 2.93, a current ratio of 4.91 and a debt-to-equity ratio of 0.02.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Innovex International

Large investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Innovex International by 31.2% in 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 last quarter. Lesa Sroufe & Co grew its holdings in Innovex International by 0.5% in the 3rd quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock valued at $2,132,000 after buying an additional 561 shares in the last quarter. Intech Investment Management LLC increased its stake 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 during the last quarter. Arizona State Retirement System increased its stake 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 worth $208,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Innovex International by 77.7% during the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after acquiring an additional 1,436 shares during the period.

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.