Insider Selling: Innovex International (NYSE:INVX) Director Sells $143,550,000.00 in Stock

Innovex International, Inc. (NYSE:INVX) Director Amberjack Capital Partners, L. sold 5,000,000 shares of Innovex International stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $28.71, for a total value of $143,550,000.00. Following the completion of the transaction, the director directly owned 311 shares of the company’s stock, valued at approximately $8,928.81. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Innovex International Trading Up 1.0%

Shares of INVX stock opened at $30.43 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 5.01. The stock has a market capitalization of $2.13 billion, a P/E ratio of 34.19 and a beta of 0.83. The company has a 50 day moving average price of $26.74 and a 200 day moving average price of $26.46. Innovex International, Inc. has a fifty-two week low of $15.83 and a fifty-two week high of $33.71.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday. Wall Street Zen upgraded shares of Innovex International from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Research lowered shares of Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Piper Sandler lifted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INVX. Strs Ohio purchased a new position in shares of Innovex International in the 4th quarter valued at $44,000. USA Financial Formulas acquired a new position in Innovex International in the first quarter valued at $53,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Innovex International during the fourth quarter worth about $55,000. Tower Research Capital LLC TRC lifted its holdings in shares of Innovex International by 418.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after purchasing an additional 2,843 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Innovex International by 77.7% in 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 during the period.

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.