Insider Selling: Innovex International (NYSE:INVX) Insider Sells $300,000.00 in Stock

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the insider owned 124,312 shares in the company, valued at $3,729,360. The trade was a 7.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mark Reddout also recently made the following trade(s):

• On Tuesday, June 2nd, Mark Reddout sold 10,750 shares of Innovex International stock. The stock was sold at an average price of $28.00, for a total value of $301,000.00.

Innovex International Price Performance

Shares of Innovex International stock traded down $1.16 during trading on Wednesday, hitting $30.47. 605,411 shares of the stock traded hands, compared to its average volume of 490,236. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 40.62 and a beta of 0.83. The firm’s fifty day moving average is $26.44 and its 200-day moving average is $26.25. Innovex International, Inc. has a 52 week low of $15.76 and a 52 week high of $33.71.

Innovex International (NYSE:INVX) last released its earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The company had revenue of $244.90 million during the quarter, compared to the consensus estimate of $241.58 million. Innovex International had a return on equity of 7.15% and a net margin of 6.17%. Research analysts expect that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Innovex International by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock worth $64,544,000 after buying an additional 335,839 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Innovex International by 52.4% during the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after purchasing an additional 837,027 shares during the period. State Street Corp boosted its position in Innovex International by 0.7% in the fourth quarter. State Street Corp now owns 1,601,149 shares of the company’s stock valued at $35,017,000 after buying an additional 11,160 shares during the last quarter. MetLife Investment Management LLC boosted its position in Innovex International by 2.6% in the fourth quarter. MetLife Investment Management LLC now owns 828,757 shares of the company’s stock valued at $18,125,000 after buying an additional 20,873 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Innovex International by 102.5% in the 1st quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after buying an additional 331,178 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen lowered shares of Innovex International from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Piper Sandler lifted their price objective on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group raised Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Innovex International has an average rating of “Moderate Buy” and an average price target of $32.25.

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.