Innovex International (NYSE:INVX) Insider Mark Reddout Sells 10,000 Shares

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,000 shares of Innovex International stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider owned 124,312 shares of the company’s stock, valued at $3,729,360. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Mark Reddout also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Reddout sold 10,750 shares of Innovex International stock. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00.

Innovex International Trading Down 3.7%

Shares of Innovex International stock opened at $30.47 on Thursday. The company has a current ratio of 5.01, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 12-month low of $15.76 and a 12-month high of $33.71. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 34.23 and a beta of 0.83. The firm’s 50 day simple moving average is $26.50 and its two-hundred day simple moving average is $26.30.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers lifted its holdings in Innovex International by 7.8% in the first quarter. Cetera Investment Advisers now owns 11,905 shares of the company’s stock valued at $290,000 after acquiring an additional 865 shares during the period. Lesa Sroufe & Co grew its stake in shares of Innovex International by 1.0% during the 1st quarter. Lesa Sroufe & Co now owns 122,788 shares of the company’s stock worth $2,995,000 after purchasing an additional 1,253 shares during the period. Swiss National Bank grew its stake in shares of Innovex International by 1.8% during the 1st quarter. Swiss National Bank now owns 74,900 shares of the company’s stock worth $1,827,000 after purchasing an additional 1,300 shares during the period. Covestor Ltd increased its holdings in shares of Innovex International by 77.7% during the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after purchasing an additional 1,436 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after purchasing an additional 1,467 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INVX. Citigroup assumed coverage on Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price target for the company. Zacks Research lowered Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Piper Sandler lifted their target price on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Wall Street Zen lowered Innovex International from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Innovex International currently has a consensus rating of “Moderate Buy” and an average price target of $32.25.

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.