Innovex International, Inc. $INVX Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Innovex International, Inc. (NYSE:INVX) by 18.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 78,982 shares of the company’s stock after selling 18,203 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.11% of Innovex International worth $1,959,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INVX. Freestone Grove Partners LP purchased a new position in shares of Innovex International during the 2nd quarter worth $43,000. USA Financial Formulas acquired a new stake in shares of Innovex International during the first quarter worth $53,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Innovex International in the fourth quarter valued at $55,000. Tower Research Capital LLC TRC grew its position in shares of Innovex International by 418.1% in the second 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 period. Finally, Covestor Ltd increased its stake in Innovex International by 77.7% in the fourth 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 last quarter.

Insiders Place Their Bets

In other Innovex International news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the stock in a transaction that occurred on 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 sale, the director owned 311 shares of the company’s stock, valued at $8,928.81. This trade represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Reddout sold 10,000 shares of Innovex International stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the sale, the insider owned 124,312 shares in the company, valued at $3,729,360. This represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,964,467 shares of company stock worth $286,092,748 in the last 90 days. 34.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

INVX has been the topic of several recent analyst reports. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Citigroup lifted their price target on Innovex International from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Piper Sandler upped their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Barclays boosted their target price on shares of Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Innovex International currently has an average rating of “Moderate Buy” and an average target price of $32.75.

Innovex International Trading Up 1.3%

Shares of INVX opened at $30.07 on Friday. Innovex International, Inc. has a 12 month low of $16.40 and a 12 month high of $33.71. The stock’s 50-day moving average is $28.29 and its two-hundred day moving average is $27.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32. The stock has a market cap of $2.10 billion, a PE ratio of 33.79 and a beta of 0.87.

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

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.