Innovex International (NYSE:INVX) Issues Quarterly Earnings Results

Innovex International (NYSE:INVX) issued its earnings results on Monday. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09), Zacks reports. The business had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a return on equity of 8.51% and a net margin of 10.59%.

Innovex International Stock Performance

INVX opened at $27.24 on Tuesday. Innovex International has a 1-year low of $11.93 and a 1-year high of $27.28. The stock has a market cap of $1.88 billion, a P/E ratio of 18.53 and a beta of 0.75. The stock’s 50 day simple moving average is $23.99 and its 200 day simple moving average is $20.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.78 and a quick ratio of 2.93.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Innovex International news, insider Mark Reddout sold 20,000 shares of the company’s stock in a transaction 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 sale, the insider owned 129,436 shares of the company’s stock, valued at approximately $3,235,900. This represents a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam Anderson sold 13,241 shares of the firm’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $331,025.00. Following the completion of the transaction, the chief executive officer owned 498,822 shares of the company’s stock, valued at approximately $12,470,550. This represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. 43.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Innovex International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVX. AQR Capital Management LLC acquired a new stake in shares of Innovex International in the first quarter valued at approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Innovex International by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after buying an additional 1,467 shares in the last quarter. Caxton Associates LLP purchased a new stake in Innovex International in the 1st quarter valued at approximately $270,000. Empowered Funds LLC grew its holdings in Innovex International by 8.2% during the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock valued at $1,044,000 after buying an additional 4,386 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Innovex International by 11.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock valued at $1,764,000 after buying an additional 10,401 shares during the last quarter.

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.