Vanguard Group Inc. Sells 83,902 Shares of Innovex International, Inc. $INVX

Vanguard Group Inc. trimmed its position in Innovex International, Inc. (NYSE:INVX) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,712,614 shares of the company’s stock after selling 83,902 shares during the quarter. Vanguard Group Inc. owned about 6.84% of Innovex International worth $103,065,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in shares of Innovex International by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock worth $40,000 after purchasing an additional 511 shares during the last quarter. Arizona State Retirement System grew its position in Innovex International by 10.9% in the third quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock worth $208,000 after acquiring an additional 1,104 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 worth $379,000 after acquiring an additional 1,467 shares in the last quarter. Legal & General Group Plc grew its position in Innovex International by 1.6% in the third quarter. Legal & General Group Plc now owns 105,967 shares of the company’s stock worth $1,965,000 after acquiring an additional 1,681 shares in the last quarter. Finally, Covestor Ltd grew its position in Innovex International by 26,300.0% in the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after acquiring an additional 1,841 shares in the last quarter.

Innovex International Price Performance

INVX opened at $27.34 on Wednesday. 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 business has a fifty day moving average of $25.92 and a 200 day moving average of $24.15. Innovex International, Inc. has a 52-week low of $13.44 and a 52-week high of $29.48. The stock has a market cap of $1.88 billion, a P/E ratio of 36.46 and a beta of 0.84.

Innovex International (NYSE:INVX) last released 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). Innovex International had a return on equity of 6.72% and a net margin of 5.31%.The business had revenue of $273.60 million during the quarter, compared to analysts’ expectations of $240.00 million. As a group, sell-side analysts anticipate that Innovex International, Inc. will post 1.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Zacks Research lowered Innovex International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Citigroup assumed coverage on Innovex International in a research report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price target for the company. Barclays lifted their price target on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.33.

Insiders Place Their Bets

In other Innovex International news, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the 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 sale, the director owned 399 shares in the company, valued at $9,811.41. 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 is available at this hyperlink. Also, CEO Adam Anderson sold 18,837 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the completion of the sale, the chief executive officer owned 466,744 shares in the company, valued at approximately $13,302,204. The trade was a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,257,078 shares of company stock worth $326,097,112 over the last quarter. Company insiders own 34.90% of the company’s stock.

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.