UBS Group AG Has $2.21 Million Position in Innovex International, Inc. $INVX

UBS Group AG lowered its holdings in Innovex International, Inc. (NYSE:INVX) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 100,962 shares of the company’s stock after selling 30,608 shares during the quarter. UBS Group AG’s holdings in Innovex International were worth $2,208,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd boosted its stake in Innovex International by 26,300.0% in the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Innovex International by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after purchasing an additional 511 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Innovex International by 418.1% in the second quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock worth $55,000 after purchasing an additional 2,843 shares in the last quarter. Polymer Capital Management US LLC acquired a new position in Innovex International in the third quarter worth $197,000. Finally, Arizona State Retirement System boosted its stake in Innovex International by 10.9% in the third quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock worth $208,000 after purchasing an additional 1,104 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INVX shares. Zacks Research raised Innovex International from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Barclays upped their price target on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Piper Sandler upped their price target on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Finally, Citigroup initiated coverage on Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock. Two equities 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.

Insider Buying and Selling at Innovex International

In related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the director owned 399 shares in the company, 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 SEC, which can be accessed through this link. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director owned 399 shares of the company’s stock, valued at $9,811.41. This represents a 99.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 34.90% of the company’s stock.

Innovex International Trading Down 7.9%

Shares of INVX opened at $27.60 on Thursday. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 12-month low of $13.44 and a 12-month high of $32.25. The firm has a market capitalization of $1.90 billion, a PE ratio of 36.80 and a beta of 0.84. The stock’s fifty day simple moving average is $26.70 and its 200-day simple moving average is $24.86.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a net margin of 5.31% and a return on equity of 6.72%. The firm had revenue of $273.60 million for the quarter, compared to analyst estimates of $240.00 million. As a group, research analysts predict that Innovex International, Inc. will post 1.44 earnings per share for the current 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.