Innovex International (NYSE:INVX) Insider Sells $300,000.00 in Stock

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the insider directly owned 124,312 shares in the company, valued at $3,729,360. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mark Reddout also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Reddout sold 10,750 shares of Innovex International stock. The shares were sold at an average price of $28.00, for a total value of $301,000.00.

Innovex International Trading Down 8.9%

INVX stock opened at $27.96 on Friday. The firm has a fifty day moving average price of $26.60 and a 200 day moving average price of $26.35. Innovex International, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $33.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.01. The firm has a market cap of $1.96 billion, a PE ratio of 31.41 and a beta of 0.83.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Wall Street Zen cut Innovex International from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Piper Sandler boosted their price objective on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new position in Innovex International during the fourth quarter valued at $44,000. USA Financial Formulas bought a new stake in shares of Innovex International in the 1st quarter worth about $53,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Innovex International in the 4th quarter worth about $55,000. Tower Research Capital LLC TRC boosted its stake in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after purchasing an additional 2,843 shares during the period. Finally, Covestor Ltd boosted its stake 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 purchasing an additional 1,436 shares during the period.

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.