Innovex International, Inc. $INVX Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its position in shares of Innovex International, Inc. (NYSE:INVX) by 70.5% during the first quarter, Holdings Channel reports. The institutional investor owned 126,288 shares of the company’s stock after buying an additional 52,218 shares during the quarter. Sei Investments Co.’s holdings in Innovex International were worth $3,080,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Simcoe Capital LLC acquired a new position in Innovex International during the 4th quarter worth approximately $3,625,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Innovex International in the 4th quarter valued at $919,000. Royce & Associates LP acquired a new stake in shares of Innovex International in the 4th quarter valued at $415,000. Avidian Wealth Enterprises LLC purchased a new stake in shares of Innovex International during the 4th quarter worth $5,821,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Innovex International by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock worth $64,544,000 after purchasing an additional 335,839 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on INVX. Citigroup initiated coverage on Innovex International in a report on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price on the stock. Barclays lifted their price target on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen cut Innovex International from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Finally, Zacks Research downgraded Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Two research analysts have 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 has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Innovex International Trading Down 8.9%

Shares of Innovex International stock opened at $27.96 on Friday. 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 company has a market capitalization of $1.96 billion, a P/E ratio of 31.41 and a beta of 0.83. Innovex International, Inc. has a 1 year low of $15.76 and a 1 year high of $33.71. The company’s fifty day moving average is $26.60 and its two-hundred day moving average is $26.35.

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

Insider Transactions at Innovex International

In related news, insider Mark Reddout sold 10,750 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the transaction, the insider owned 134,312 shares in the company, valued at $3,760,736. The trade was a 7.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 34.90% of the stock is owned by company insiders.

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.