Insider Selling: Innovex International (NYSE:INVX) CEO Sells 13,241 Shares of Stock

Innovex International, Inc. (NYSE:INVX) CEO Adam Anderson sold 13,241 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $27.00, for a total value of $357,507.00. Following the sale, the chief executive officer directly owned 485,581 shares in the company, valued at $13,110,687. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Adam Anderson also recently made the following trade(s):

• On Wednesday, January 14th, Adam Anderson sold 13,241 shares of Innovex International stock. The shares were sold at an average price of $25.00, for a total value of $331,025.00.

Innovex International Trading Up 6.0%

Shares of NYSE:INVX traded up $1.62 during trading on Tuesday, hitting $28.79. The company had a trading volume of 1,029,054 shares, compared to its average volume of 408,635. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 23.99 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93. The company has a fifty day simple moving average of $24.13 and a two-hundred day simple moving average of $20.93. Innovex International, Inc. has a one year low of $11.93 and a one year high of $29.44.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a net margin of 8.52% and a return on equity of 6.64%.

Hedge Funds Weigh In On Innovex International

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its stake in shares of Innovex International by 31.2% during the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after acquiring an additional 511 shares in the last quarter. Lesa Sroufe & Co increased its holdings in Innovex International by 0.5% during the 3rd quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock worth $2,132,000 after purchasing an additional 561 shares during the period. Intech Investment Management LLC raised its position in Innovex International by 4.4% during the 2nd quarter. Intech Investment Management LLC now owns 23,452 shares of the company’s stock valued at $366,000 after purchasing an additional 978 shares in the last quarter. Arizona State Retirement System raised its position in Innovex International by 10.9% during the 3rd quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock valued at $208,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Innovex International by 77.7% in the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after buying an additional 1,436 shares during the period.

Analysts Set New Price Targets

INVX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innovex International in a research note on Monday, December 29th. Piper Sandler boosted their target price on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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.