100,753 Shares in Innovex International, Inc. $INVX Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Innovex International, Inc. (NYSE:INVX) during the second quarter, Holdings Channel.com reports. The firm acquired 100,753 shares of the company’s stock, valued at approximately $2,499,000.

A number of other institutional investors have also modified their holdings of INVX. Simcoe Capital LLC acquired a new stake in Innovex International during the fourth quarter worth about $3,625,000. Royce & Associates LP acquired a new stake in shares of Innovex International during the 4th quarter worth approximately $415,000. Dimensional Fund Advisors LP grew its stake in shares of Innovex International by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock worth $64,544,000 after purchasing an additional 335,839 shares during the period. Sei Investments Co. increased its holdings in shares of Innovex International by 70.5% during the 1st quarter. Sei Investments Co. now owns 126,288 shares of the company’s stock valued at $3,080,000 after purchasing an additional 52,218 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of Innovex International by 614.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 68,102 shares of the company’s stock valued at $1,661,000 after purchasing an additional 58,576 shares in the last quarter.

Innovex International Stock Down 2.3%

Shares of NYSE INVX opened at $30.08 on Friday. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 33.80 and a beta of 0.87. Innovex International, Inc. has a 52-week low of $16.29 and a 52-week high of $33.71. The business’s 50 day moving average is $27.74 and its two-hundred day moving average is $27.03.

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

Insider Transactions at Innovex International

In other news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $28.71, for a total value of $143,550,000.00. Following the completion of the transaction, the director owned 311 shares of the company’s stock, valued at approximately $8,928.81. This trade 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 the SEC website. 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 transaction, 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. Over the last quarter, insiders have sold 9,964,467 shares of company stock valued at $286,092,748. 34.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on INVX shares. Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a research report on Monday, August 17th. Barclays upped their price target on Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Piper Sandler upped their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Citigroup raised their price objective on shares of Innovex International from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings raised shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Innovex International presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.75.

About Innovex International

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.