Vanguard Group Inc. Has $88.93 Million Position in Innovex International, Inc. $INVX

Vanguard Group Inc. cut its holdings in shares of Innovex International, Inc. (NYSE:INVX) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,796,516 shares of the company’s stock after selling 81,587 shares during the quarter. Vanguard Group Inc. owned approximately 0.07% of Innovex International worth $88,927,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Brandes Investment Partners LP increased its position 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 valued at $110,194,000 after acquiring an additional 504,935 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Innovex International by 371.9% during the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock valued at $5,376,000 after purchasing an additional 271,247 shares during the last quarter. First Trust Advisors LP bought a new position in Innovex International in the second quarter valued at approximately $2,871,000. Empowered Funds LLC increased its position in shares of Innovex International by 294.6% during the 2nd quarter. Empowered Funds LLC now owns 229,378 shares of the company’s stock worth $3,583,000 after purchasing an additional 171,247 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Innovex International by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 922,305 shares of the company’s stock worth $14,408,000 after purchasing an additional 45,174 shares during the last quarter.

Insider Transactions at Innovex International

In other news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the transaction, the director owned 399 shares of the company’s stock, valued at approximately $9,811.41. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Reddout sold 20,000 shares of the stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total value of $500,000.00. Following the transaction, the insider owned 129,436 shares in the company, valued at approximately $3,235,900. This trade represents a 13.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,290,319 shares of company stock worth $326,928,137. Insiders own 43.90% of the company’s stock.

Innovex International Trading Up 2.5%

INVX stock opened at $26.94 on Friday. Innovex International, Inc. has a one year low of $11.93 and a one year high of $29.48. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 22.45 and a beta of 0.72. The company has a fifty day moving average price of $24.82 and a two-hundred day moving average price of $21.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24.

Innovex International (NYSE:INVX) last posted its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). Innovex International had a return on equity of 6.55% and a net margin of 8.52%.The company had revenue of $273.60 million for the quarter, compared to analyst estimates of $240.00 million.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler increased their price objective on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings lowered shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Barclays lifted their price objective on shares of Innovex International from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Zacks Research cut shares of Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Innovex International has an average rating of “Hold” and a consensus target price of $25.50.

Innovex International 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.