Key Points
- Adam Anderson, CEO of Innovex International, sold 18,837 shares on Feb. 24 at an average price of $28.50 for proceeds of $536,854.50, reducing his stake to 466,744 shares (a 3.88% drop in ownership).
- The stock plunged 11.2% to $25.97 on heavy volume after the company reported an earnings miss (EPS $0.20 vs. $0.29 expected) despite revenue beating estimates ($273.6M vs. $240.0M expected).
- Analyst sentiment is mixed but positive overall, with a MarketBeat consensus of “Moderate Buy” and a consensus price target of $20, while firms like Piper Sandler have an overweight view and a $27 target.
Innovex International, Inc. (NYSE:INVX - Get Free Report) CEO Adam Anderson sold 18,837 shares of Innovex International 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 completion of the transaction, the chief executive officer directly owned 466,744 shares in the company, valued at $13,302,204. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Adam Anderson also recently made the following trade(s):
- On Monday, February 23rd, Adam Anderson sold 13,241 shares of Innovex International stock. The stock was sold at an average price of $27.00, for a total value of $357,507.00.
- On Wednesday, January 14th, Adam Anderson sold 13,241 shares of Innovex International stock. The stock was sold at an average price of $25.00, for a total value of $331,025.00.
Innovex International Stock Down 11.2%
NYSE:INVX traded down $3.28 during mid-day trading on Thursday, hitting $25.97. 1,567,647 shares of the company's stock traded hands, compared to its average volume of 449,186. The company has a fifty day moving average of $24.28 and a 200 day moving average of $20.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.93 and a current ratio of 4.91. Innovex International, Inc. has a twelve month low of $11.93 and a twelve month high of $29.48. The company has a market capitalization of $1.79 billion, a P/E ratio of 21.67 and a beta of 0.75.
Innovex International (NYSE:INVX - Get Free Report) last issued its quarterly 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 6.55% and a net margin of 8.52%.The business had revenue of $273.60 million for the quarter, compared to analysts' expectations of $240.00 million.
Wall Street Analyst Weigh In
A number of research firms have issued reports on INVX. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Innovex International in a report on Monday, December 29th. Piper Sandler upped their target price on Innovex International from $20.00 to $27.00 and gave the company an "overweight" rating in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.
Read Our Latest Analysis on INVX
Institutional Trading of Innovex International
Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Innovex International during the first quarter worth $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 purchased a new position in shares of Innovex International during the 1st quarter valued at 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 valued at $1,044,000 after buying an additional 4,386 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 worth $1,764,000 after buying an additional 10,401 shares during the last quarter.
Innovex International Company Profile
(
Get Free Report)
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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