Innovex International (NYSE:INVX) Insider Mark Reddout Sells 10,000 Shares

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,000 shares of Innovex International stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the transaction, the insider owned 124,312 shares in the company, valued at approximately $3,729,360. This represents a 7.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

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

Innovex International Trading Down 3.7%

Innovex International stock traded down $1.16 during midday trading on Wednesday, hitting $30.47. 605,411 shares of the stock were exchanged, compared to its average volume of 490,236. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 40.62 and a beta of 0.83. The stock’s 50-day simple moving average is $26.44 and its 200 day simple moving average is $26.25. Innovex International, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $33.71.

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

Wall Street Analysts Forecast Growth

INVX has been the subject of a number of recent analyst reports. Citigroup began coverage on Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Barclays upped their price objective on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Innovex International from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.25.

Hedge Funds Weigh In On Innovex International

Several institutional investors have recently bought and sold shares of INVX. AQR Capital Management LLC purchased a new position in shares of Innovex International in the 1st quarter valued at $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after purchasing an additional 1,467 shares during the period. Caxton Associates LLP acquired a new stake in shares of Innovex International during the 1st quarter worth approximately $270,000. Empowered Funds LLC lifted its holdings in shares of Innovex International by 8.2% in the 1st 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 boosted its position in Innovex International by 11.8% during the 1st 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.

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.