Innovex International (NYSE:INVX) Releases Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Innovex International (NYSE:INVX) released its quarterly earnings data on Monday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09), Zacks reports. Innovex International had a net margin of 8.52% and a return on equity of 6.64%. The firm had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million.

Innovex International Trading Up 6.0%

NYSE INVX opened at $28.79 on Wednesday. The business’s fifty day moving average is $24.13 and its 200-day moving average is $20.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 23.99 and a beta of 0.75. Innovex International has a one year low of $11.93 and a one year high of $29.44.

Insider Transactions at Innovex International

In other news, insider Mark Reddout sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $25.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider owned 129,436 shares in the company, valued at $3,235,900. This trade represents a 13.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Anderson sold 13,241 shares of Innovex International stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $27.00, for a total transaction of $357,507.00. Following the completion of the sale, the chief executive officer directly owned 485,581 shares in the company, valued at $13,110,687. This trade represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 46,482 shares of company stock valued at $1,188,532 in the last 90 days. 43.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Innovex International

A number of large investors have recently bought and sold shares of INVX. Creative Planning grew its stake in shares of Innovex International by 11.2% during the 3rd quarter. Creative Planning now owns 20,930 shares of the company’s stock worth $388,000 after acquiring an additional 2,101 shares during the period. BNP Paribas Financial Markets lifted its holdings in Innovex International by 1,082.1% during the second quarter. BNP Paribas Financial Markets now owns 29,021 shares of the company’s stock valued at $453,000 after purchasing an additional 26,566 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Innovex International by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 22,021 shares of the company’s stock worth $482,000 after purchasing an additional 1,688 shares during the period. &PARTNERS increased its stake in shares of Innovex International by 7.0% in the fourth quarter. &PARTNERS now owns 24,220 shares of the company’s stock worth $530,000 after purchasing an additional 1,587 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Innovex International by 23.2% in the third quarter. JPMorgan Chase & Co. now owns 30,008 shares of the company’s stock worth $556,000 after purchasing an additional 5,643 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on INVX shares. Piper Sandler boosted their target price on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. One research 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 stock. According to MarketBeat, Innovex International has an average rating of “Moderate Buy” and a consensus target price of $20.00.

About Innovex International

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.