Innovex International (NYSE:INVX) Insider Mark Reddout Sells 10,750 Shares

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the completion of the sale, the insider owned 134,312 shares in the company, valued at $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Innovex International Stock Performance

Shares of INVX stock opened at $27.34 on Thursday. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $26.96 and a 200 day moving average price of $25.10. The company has a market cap of $1.88 billion, a P/E ratio of 36.45 and a beta of 0.82. Innovex International, Inc. has a 12 month low of $14.65 and a 12 month high of $32.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INVX shares. Zacks Research upgraded Innovex International from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings downgraded Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Piper Sandler increased their price target 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. Citigroup began coverage on shares of Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Barclays upped their target price on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.67.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA acquired a new stake in shares of Innovex International in the first quarter valued at approximately $709,000. Bank of America Corp DE boosted its stake in Innovex International by 102.5% during the 1st quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after purchasing an additional 331,178 shares during the period. Amundi acquired a new stake in Innovex International during the 1st quarter worth $310,000. Royal Bank of Canada grew its position in Innovex International by 21.8% during the 1st quarter. Royal Bank of Canada now owns 35,554 shares of the company’s stock worth $867,000 after purchasing an additional 6,374 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Innovex International by 3.6% in the first quarter. Empowered Funds LLC now owns 325,179 shares of the company’s stock valued at $7,931,000 after purchasing an additional 11,259 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.