State of Wyoming Makes New $774,000 Investment in Innovex International, Inc. $INVX

State of Wyoming bought a new stake in Innovex International, Inc. (NYSE:INVX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,205 shares of the company’s stock, valued at approximately $774,000.

A number of other hedge funds and other institutional investors have also modified their holdings of INVX. USA Financial Formulas acquired a new stake in shares of Innovex International in the 1st quarter worth $53,000. Summit Global Investments acquired a new position in shares of Innovex International during the 2nd quarter valued at about $222,000. Pacer Advisors Inc. boosted its position in shares of Innovex International by 3.5% during the 1st quarter. Pacer Advisors Inc. now owns 270,939 shares of the company’s stock valued at $6,608,000 after acquiring an additional 9,147 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Innovex International by 3.6% in the first quarter. Empowered Funds LLC now owns 325,179 shares of the company’s stock valued at $7,931,000 after purchasing an additional 11,259 shares during the period. Finally, Glenmede Trust Co. NA purchased a new stake in shares of Innovex International in the first quarter valued at about $709,000.

Insider Transactions at Innovex International

In related news, insider Mark Reddout sold 10,750 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the completion of the transaction, the insider owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of Innovex International stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $142,242,747.57. 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 position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 9,975,217 shares of company stock worth $286,393,748. 34.90% of the stock is currently owned by insiders.

Innovex International Stock Performance

Shares of Innovex International stock opened at $31.24 on Monday. The firm has a market cap of $2.19 billion, a PE ratio of 35.10 and a beta of 0.83. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 52 week low of $15.83 and a 52 week high of $33.71. The business’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $26.54.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $241.58 million. Equities analysts forecast that Innovex International, Inc. will post 1.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INVX. Weiss Ratings upgraded shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a report on Friday, June 12th. Zacks Research cut shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Citigroup started coverage on shares of Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price target for the company. Finally, Barclays lifted their price target on shares of Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

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.