Insider Selling: Innovex International (NYSE:INVX) CEO Sells 18,837 Shares of Stock

Innovex International, Inc. (NYSE:INVX) CEO Adam Anderson sold 18,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total value of $536,854.50. Following the completion of the sale, the chief executive officer owned 466,744 shares of the company’s stock, valued at $13,302,204. The trade was a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Adam Anderson also recently made the following trade(s):

• On Monday, February 23rd, Adam Anderson sold 13,241 shares of Innovex International stock. The stock was sold at an average price of $27.00, for a total transaction of $357,507.00.
• On Wednesday, January 14th, Adam Anderson sold 13,241 shares of Innovex International stock. The shares were sold at an average price of $25.00, for a total transaction of $331,025.00.

Innovex International Trading Up 1.2%

Innovex International stock traded up $0.36 during trading hours on Wednesday, reaching $29.26. The stock had a trading volume of 530,826 shares, compared to its average volume of 429,080. The company has a fifty day simple moving average of $24.13 and a 200-day simple moving average of $20.93. Innovex International, Inc. has a 52 week low of $11.93 and a 52 week high of $29.48. The stock has a market cap of $2.02 billion, a PE ratio of 24.38 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93.

Innovex International (NYSE:INVX) last posted its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). The business had revenue of $273.60 million during the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a return on equity of 6.64% and a net margin of 8.52%.

Hedge Funds Weigh In On Innovex International

A number of institutional investors have recently added to or reduced their stakes in INVX. Covestor Ltd boosted its holdings in shares of Innovex International by 26,300.0% during the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock valued at $34,000 after buying an additional 1,841 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after acquiring an additional 511 shares during the period. Strs Ohio bought a new stake in Innovex International during the fourth quarter worth about $44,000. First Horizon Advisors Inc. grew its holdings in Innovex International by 150.3% in the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock worth $53,000 after purchasing an additional 2,022 shares during the period. Finally, Westfuller Advisors LLC purchased a new stake in Innovex International in the third quarter worth about $53,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler upped their price objective on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.