Vanguard Group Inc. decreased its position in Innovex International, Inc. (NYSE:INVX – Free Report) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,712,614 shares of the company’s stock after selling 83,902 shares during the period. Vanguard Group Inc. owned 0.07% of Innovex International worth $103,065,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of INVX. AQR Capital Management LLC purchased a new stake in shares of Innovex International in the first quarter valued at approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 purchasing an additional 1,467 shares during the period. Caxton Associates LLP purchased a new stake in shares of Innovex International in the first quarter valued at approximately $270,000. Empowered Funds LLC boosted its holdings in shares of Innovex International by 8.2% in the first quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock valued at $1,044,000 after purchasing an additional 4,386 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 valued at $1,764,000 after purchasing an additional 10,401 shares during the period.
Wall Street Analysts Forecast Growth
INVX has been the subject of a number of research reports. Barclays boosted their price target on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Zacks Research lowered Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Citigroup started coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 target price for the company. Finally, Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.33.
Innovex International Stock Up 1.0%
Innovex International stock opened at $27.34 on Wednesday. The business has a fifty day moving average of $25.92 and a two-hundred day moving average of $24.15. 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 firm has a market cap of $1.88 billion, a P/E ratio of 36.46 and a beta of 0.84. Innovex International, Inc. has a twelve month low of $13.44 and a twelve month high of $29.48.
Innovex International (NYSE:INVX – Get Free Report) last posted its earnings results 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). The company had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a return on equity of 6.72% and a net margin of 5.31%. On average, analysts forecast that Innovex International, Inc. will post 1.32 earnings per share for the current fiscal year.
Insider Transactions at Innovex International
In other news, CEO Adam Anderson sold 18,837 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total transaction of $536,854.50. Following the transaction, the chief executive officer directly owned 466,744 shares of the company’s stock, valued at approximately $13,302,204. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the company’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the transaction, the director directly owned 399 shares in the company, valued at approximately $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,257,078 shares of company stock valued at $326,097,112. Corporate insiders own 34.90% of the company’s stock.
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.
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