Insider Selling: Innovex International (NYSE:INVX) CEO Sells $536,854.50 in Stock

Innovex International, Inc. (NYSE:INVX) CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the transaction, the chief executive officer directly owned 466,744 shares of the company’s stock, valued at $13,302,204. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Adam Anderson also recently made the following trade(s):

• On Monday, February 23rd, Adam Anderson sold 13,241 shares of Innovex International stock. The shares were sold at an average price of $27.00, for a total transaction of $357,507.00.
• On Wednesday, January 14th, Adam Anderson sold 13,241 shares of Innovex International stock. The shares were sold at an average price of $25.00, for a total transaction of $331,025.00.

Innovex International Stock Down 1.0%

Shares of NYSE INVX opened at $26.39 on Friday. The firm’s 50-day moving average is $24.48 and its two-hundred day moving average is $21.10. The company has a market capitalization of $1.82 billion, a PE ratio of 21.99 and a beta of 0.75. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $29.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 2.93.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share 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 business had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million.

Wall Street Analyst Weigh In

A number of research firms recently commented on INVX. Piper Sandler lifted their price objective on Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Innovex International in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Innovex International presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Hedge Funds Weigh In On Innovex International

Several large investors have recently added to or reduced their stakes in the business. Covestor Ltd grew its holdings in Innovex International by 26,300.0% in the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company’s stock valued at $34,000 after buying an additional 1,841 shares during the period. Strs Ohio purchased a new stake in Innovex International in the fourth quarter valued at approximately $44,000. Smartleaf Asset Management LLC increased its position in Innovex International by 31.2% during 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 during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Innovex International during the fourth quarter worth approximately $55,000. Finally, Westfuller Advisors LLC purchased a new position in Innovex International during the third quarter worth approximately $53,000.

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.