Innovex International (NYSE:INVX) Director Amberjack Capital Partners, L. Sells 6,612,500 Shares of Stock

Innovex International, Inc. (NYSE:INVX) Director Amberjack Capital Partners, L. sold 6,612,500 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares of the company’s stock, valued at $9,811.41. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Innovex International Trading Down 1.0%

Shares of Innovex International stock opened at $26.39 on Friday. The firm’s 50 day moving average is $24.48 and its 200 day moving average is $21.10. The firm has a market capitalization of $1.82 billion, a PE ratio of 21.99 and a beta of 0.75. Innovex International, Inc. has a 1 year low of $11.93 and a 1 year high of $29.48. The company has a current ratio of 4.91, a quick ratio of 2.93 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $273.60 million during the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a net margin of 8.52% and a return on equity of 6.55%.

Institutional Investors Weigh In On Innovex International

Several institutional investors and hedge funds have recently made changes to their positions in INVX. Brandes Investment Partners LP lifted its stake in shares of Innovex International by 7.7% in the second quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock worth $110,194,000 after acquiring an additional 504,935 shares during the period. Wellington Management Group LLP raised its holdings in Innovex International by 52.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after purchasing an additional 837,027 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Innovex International by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,310,537 shares of the company’s stock worth $50,533,000 after purchasing an additional 157,265 shares during the last quarter. State Street Corp lifted its position in shares of Innovex International by 0.7% in the 4th quarter. State Street Corp now owns 1,601,149 shares of the company’s stock worth $35,017,000 after purchasing an additional 11,160 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Innovex International by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 922,305 shares of the company’s stock valued at $14,408,000 after purchasing an additional 45,174 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th. Piper Sandler lifted their price target on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently 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.