The Manufacturers Life Insurance Company Invests $458,000 in Innovex International, Inc. $INVX

The Manufacturers Life Insurance Company bought a new stake in shares of Innovex International, Inc. (NYSE:INVX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,459 shares of the company’s stock, valued at approximately $458,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in Innovex International during the first quarter worth $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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. Caxton Associates LLP bought a new stake in shares of Innovex International in the 1st quarter worth about $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 acquiring an additional 4,386 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of 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 worth $1,764,000 after purchasing an additional 10,401 shares during the period.

Analyst Ratings Changes

A number of research firms recently weighed in on INVX. Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Zacks Research cut Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Wall Street Zen downgraded Innovex International from a “buy” rating to a “hold” rating in a report on Monday, August 17th. Piper Sandler raised their price target on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, Weiss Ratings raised Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.75.

Innovex International Stock Up 0.0%

Shares of NYSE INVX opened at $30.08 on Monday. Innovex International, Inc. has a 52-week low of $16.29 and a 52-week high of $33.71. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 33.80 and a beta of 0.87. The stock has a 50 day moving average price of $27.74 and a 200 day moving average price of $27.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 5.01.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The company had revenue of $244.90 million for the quarter, compared to the consensus estimate of $241.58 million. Sell-side analysts expect that Innovex International, Inc. will post 1.44 earnings per share for the current year.

Insider Activity at Innovex International

In related news, insider Mark Reddout sold 10,000 shares of Innovex International stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the insider directly owned 124,312 shares of the company’s stock, valued at $3,729,360. This trade represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the business’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 $142,242,747.57. Following the completion of the transaction, the director directly owned 311 shares of the company’s stock, valued at $8,928.81. This trade represents a 99.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,964,467 shares of company stock worth $286,092,748 over the last three months. 34.90% of the stock is owned by corporate insiders.

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.