Innovex International (NYSE:INVX) Director Sells $142,242,747.57 in Stock

Innovex International, Inc. (NYSE:INVX) Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $142,242,747.57. Following the completion of the transaction, the director directly owned 311 shares in the company, valued at $8,928.81. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Innovex International Price Performance

INVX stock opened at $30.43 on Thursday. The company has a market cap of $2.13 billion, a PE ratio of 34.19 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. The stock has a 50-day moving average price of $26.74 and a two-hundred day moving average price of $26.46. Innovex International, Inc. has a 12-month low of $15.83 and a 12-month high of $33.71.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The company had revenue of $244.90 million for the quarter, compared to the consensus estimate of $241.58 million. As a group, research analysts predict that Innovex International, Inc. will post 1.44 EPS for the current year.

Institutional Trading of Innovex International

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio acquired a new position in shares of Innovex International in the fourth quarter worth about $44,000. USA Financial Formulas acquired a new stake in Innovex International during the 1st quarter valued at approximately $53,000. Aster Capital Management DIFC Ltd acquired a new stake in Innovex International during the 4th quarter valued at approximately $55,000. Covestor Ltd increased its holdings in 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 last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in 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 last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 6th. Zacks Research lowered Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Wall Street Zen raised shares of Innovex International from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Piper Sandler lifted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Two 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.50.

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.