De Lisle Partners LLP Takes Position in Innovex International, Inc. $INVX

De Lisle Partners LLP acquired a new stake in shares of Innovex International, Inc. (NYSE:INVX) during the second quarter, according to its most recent filing with the SEC. The fund acquired 242,073 shares of the company’s stock, valued at approximately $6,000,000.

A number of other institutional investors have also added to or reduced their stakes in INVX. Cetera Investment Advisers boosted its stake in Innovex International by 7.8% in the 1st quarter. Cetera Investment Advisers now owns 11,905 shares of the company’s stock worth $290,000 after purchasing an additional 865 shares during the period. Lesa Sroufe & Co increased its position in shares of Innovex International by 1.0% during the first quarter. Lesa Sroufe & Co now owns 122,788 shares of the company’s stock valued at $2,995,000 after buying an additional 1,253 shares during the period. Swiss National Bank lifted its holdings in shares of Innovex International by 1.8% in the first quarter. Swiss National Bank now owns 74,900 shares of the company’s stock worth $1,827,000 after buying an additional 1,300 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Innovex International by 77.7% in the fourth quarter. Covestor Ltd now owns 3,284 shares of the company’s stock worth $72,000 after buying an additional 1,436 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after acquiring an additional 1,467 shares during the period.

Analyst Ratings Changes

INVX has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Innovex International from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Piper Sandler raised their price target 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. 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. Citigroup assumed coverage on Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Two 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Innovex International Price Performance

Shares of NYSE:INVX opened at $29.32 on Friday. The company’s fifty day moving average price is $26.97 and its 200-day moving average price is $26.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 32.94 and a beta of 0.83. Innovex International, Inc. has a one year low of $16.29 and a one year high of $33.71.

Innovex International (NYSE:INVX) last posted 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 net margin of 6.17% and a return on equity of 7.12%. The company had revenue of $244.90 million during the quarter, compared to the consensus estimate of $241.58 million. On average, equities research analysts anticipate that Innovex International, Inc. will post 1.44 earnings per share for the current fiscal year.

Insider Activity at Innovex International

In other news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was 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 directly owned 311 shares in the company, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $28.71, for a total value 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. The trade was a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,975,217 shares of company stock valued at $286,393,748 over the last 90 days. 34.90% of the stock is owned by insiders.

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.