The Manufacturers Life Insurance Company purchased a new stake in shares of Innovex International, Inc. (NYSE:INVX – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,459 shares of the company’s stock, valued at approximately $458,000.
A number of other institutional investors have also modified their holdings of INVX. AQR Capital Management LLC purchased a new position in shares of Innovex International in the 1st quarter worth approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 in the last quarter. Caxton Associates LLP acquired a new stake in Innovex International in the first quarter valued at approximately $270,000. Empowered Funds LLC grew its holdings in Innovex International by 8.2% in the first quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after purchasing an additional 4,386 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Innovex International by 11.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock worth $1,764,000 after purchasing an additional 10,401 shares during the last quarter.
Innovex International Price Performance
NYSE INVX opened at $30.08 on Monday. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 33.80 and a beta of 0.87. 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 stock’s fifty day moving average price is $27.74 and its 200 day moving average price is $27.04. Innovex International, Inc. has a 1 year low of $16.29 and a 1 year high of $33.71.
Insider Transactions at Innovex International
In other Innovex International news, Director Co-Invest Fund L.P. Innovex sold 4,954,467 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 transaction of $142,242,747.57. Following the completion of the transaction, the director directly owned 311 shares of the company’s stock, valued at approximately $8,928.81. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 stock was sold at an average price of $28.71, for a total transaction of $143,550,000.00. Following the transaction, the director directly owned 311 shares of the company’s stock, valued at $8,928.81. This represents a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 9,964,467 shares of company stock worth $286,092,748 over the last three months. 34.90% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several analysts have recently commented on INVX shares. Piper Sandler increased their price objective on Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays upped their target price 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. Citigroup increased their price target on Innovex International from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. One research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.75.
Check Out Our Latest Stock Analysis on INVX
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.
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