De Lisle Partners LLP Buys Shares of 242,073 Innovex International, Inc. $INVX

De Lisle Partners LLP purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 242,073 shares of the company’s stock, valued at approximately $6,000,000. De Lisle Partners LLP owned 0.35% of Innovex International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in INVX. BlackRock Inc. bought a new position in Innovex International during the second quarter worth $160,389,000. Wellington Management Group LLP grew its holdings in Innovex International by 52.4% during the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after buying an additional 837,027 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Innovex International in the 2nd quarter worth $11,492,000. Heartland Advisors Inc. bought a new position in shares of Innovex International during the second quarter valued at about $11,020,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock valued at $64,544,000 after purchasing an additional 335,839 shares in the last quarter.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,000 shares of Innovex International stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $143,550,000.00. Following the completion of the sale, the director directly owned 311 shares in the company, valued at approximately $8,928.81. This trade represents a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 9,975,217 shares of company stock worth $286,393,748. Company insiders own 34.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays upped their price objective on shares of Innovex International from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Citigroup assumed coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Piper Sandler lifted their price target on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Innovex International Price Performance

Shares of NYSE INVX opened at $29.32 on Friday. The stock has a fifty day simple moving average of $26.97 and a two-hundred day simple moving average of $26.69. Innovex International, Inc. has a 1-year low of $16.29 and a 1-year high of $33.71. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 32.94 and a beta of 0.83. The company has a current ratio of 5.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last issued its earnings results on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The firm had revenue of $244.90 million for the quarter, compared to analyst estimates of $241.58 million. Analysts anticipate that Innovex International, Inc. will post 1.44 earnings per share for the current year.

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.