Innovex International (NYSE:INVX) Director Co-Invest Fund L.P. Innovex Sells 4,954,467 Shares of Stock

Innovex International, Inc. (NYSE:INVX) Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $28.71, for a total value of $142,242,747.57. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Innovex International Stock Up 3.4%

INVX stock traded up $0.96 during trading on Monday, reaching $29.06. 1,864,194 shares of the stock were exchanged, compared to its average volume of 517,607. The firm’s 50 day moving average is $26.60 and its 200 day moving average is $26.37. Innovex International, Inc. has a twelve month low of $15.76 and a twelve month high of $33.71. The company has a current ratio of 5.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.03 billion, a P/E ratio of 32.65 and a beta of 0.83.

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

Institutional Trading of Innovex International

Several institutional investors and hedge funds have recently made changes to their positions in INVX. AQR Capital Management LLC bought a new position in shares of Innovex International during the first quarter valued at about $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 during the last quarter. Caxton Associates LLP bought a new position in shares of Innovex International during the 1st quarter worth approximately $270,000. Empowered Funds LLC lifted its position in shares of Innovex International by 8.2% during the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after buying an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Innovex International by 11.8% in 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 worth $1,764,000 after buying an additional 10,401 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have commented on INVX shares. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Citigroup assumed coverage on shares of Innovex International in a research report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target on the stock. Zacks Research downgraded Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Barclays increased their price objective on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

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.