73,769 Shares in Innovex International, Inc. $INVX Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in Innovex International, Inc. (NYSE:INVX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 73,769 shares of the company’s stock, valued at approximately $1,829,000.

A number of other institutional investors have also added to or reduced their stakes in INVX. Strs Ohio bought a new position in shares of Innovex International during the fourth quarter worth $44,000. USA Financial Formulas purchased a new stake in Innovex International in the 1st quarter worth $53,000. Aster Capital Management DIFC Ltd purchased a new stake in Innovex International in the 4th quarter worth $55,000. Tower Research Capital LLC TRC boosted its holdings 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 valued at $55,000 after purchasing an additional 2,843 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Innovex International by 77.7% during the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after purchasing an additional 1,436 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INVX shares. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Piper Sandler increased their price target on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Barclays lifted their price objective on Innovex International from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.75.

Innovex International Stock Performance

Shares of NYSE:INVX opened at $28.25 on Thursday. The firm has a fifty day simple moving average of $27.06 and a two-hundred day simple moving average of $26.78. Innovex International, Inc. has a 52 week low of $16.29 and a 52 week high of $33.71. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.98 billion, a P/E ratio of 31.74 and a beta of 0.83.

Innovex International (NYSE:INVX) last announced 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. The firm 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%. On average, analysts expect that Innovex International, Inc. will post 1.44 earnings per share for the current fiscal year.

Insider Activity at Innovex International

In related news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $28.71, for a total value of $143,550,000.00. Following the sale, the director directly owned 311 shares of the company’s stock, valued at $8,928.81. This represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Reddout sold 10,750 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the completion of the sale, the insider owned 134,312 shares in the company, valued at approximately $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 9,975,217 shares of company stock worth $286,393,748. Insiders own 34.90% of the company’s stock.

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.