Key Points
- Director Co-Invest Fund L.P. sold 6,612,500 shares at an average price of $24.59 for a total of $162,601,375, leaving the director with 399 shares — a 99.99% reduction in ownership.
- In the most recent quarter Innovex reported EPS of $0.20 (missing the $0.29 estimate) but revenue of $273.6M beat expectations; the stock trades near $26.39 with a market cap of $1.82B and a P/E of 21.99.
- Analyst views are mixed: the consensus rating is "Moderate Buy" with a $20 average target, while Piper Sandler raised its target to $27 and Weiss Ratings reiterated a buy.
Innovex International, Inc. (NYSE:INVX - Get Free Report) Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of Innovex International stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the transaction, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Innovex International Stock Performance
Innovex International stock opened at $26.39 on Friday. The firm has a 50 day simple moving average of $24.48 and a 200-day simple moving average of $21.10. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.99 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 2.93. Innovex International, Inc. has a 1-year low of $11.93 and a 1-year high of $29.48.
Innovex International (NYSE:INVX - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a net margin of 8.52% and a return on equity of 6.55%. The firm had revenue of $273.60 million for the quarter, compared to analysts' expectations of $240.00 million.
Analysts Set New Price Targets
INVX has been the topic of several recent analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of Innovex International in a report on Monday, December 29th. Piper Sandler raised their price target on Innovex International from $20.00 to $27.00 and gave the stock 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.00.
Get Our Latest Stock Report on INVX
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in INVX. AQR Capital Management LLC acquired a new stake in Innovex International during the 1st quarter worth approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Innovex International by 7.5% during 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 during the period. Caxton Associates LLP purchased a new stake in shares of Innovex International during the first quarter worth $270,000. Empowered Funds LLC raised its stake 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 acquiring an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 valued at $1,764,000 after acquiring an additional 10,401 shares in 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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