Key Points
- Insider sale: Mark Reddout sold 10,000 Innovex International shares at an average price of $30, generating $300,000. His remaining stake fell 7.45% to 124,312 shares.
- Quarterly results exceeded expectations: Innovex reported earnings of $0.36 per share versus the $0.31 consensus estimate, while revenue reached $244.9 million, above expectations of $241.58 million.
- Mixed analyst outlook: Ratings range from Strong Buy to Hold, with the stock carrying a “Moderate Buy” consensus rating and a $32.25 average price target. Shares recently opened at $30.47, below the 52-week high of $33.71.
Innovex International, Inc. (NYSE:INVX - Get Free Report) insider Mark Reddout sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $30.00, for a total transaction of $300,000.00. Following the completion of the transaction, the insider owned 124,312 shares of the company's stock, valued at approximately $3,729,360. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Mark Reddout also recently made the following trade(s):
- On Tuesday, June 2nd, Mark Reddout sold 10,750 shares of Innovex International stock. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00.
Innovex International Price Performance
NYSE:INVX opened at $30.47 on Thursday. Innovex International, Inc. has a 52 week low of $15.76 and a 52 week high of $33.71. The company has a quick ratio of 3.38, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.09 billion, a PE ratio of 34.23 and a beta of 0.83. The stock's 50-day moving average price is $26.50 and its 200-day moving average price is $26.30.
Innovex International (NYSE:INVX - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. The company had revenue of $244.90 million during the quarter, compared to analysts' expectations of $241.58 million. Innovex International had a return on equity of 7.12% and a net margin of 6.17%. As a group, equities analysts expect that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.
Institutional Investors Weigh In On Innovex International
Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Innovex International during the first quarter valued at approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $379,000 after acquiring an additional 1,467 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Innovex International in the first quarter worth approximately $270,000. Empowered Funds LLC increased its position in shares of Innovex International by 8.2% during the first 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Innovex International by 11.8% during 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 purchasing an additional 10,401 shares in the last quarter.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on INVX. Wall Street Zen downgraded Innovex International from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of Innovex International from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Jefferies Financial Group raised shares of Innovex International to a "strong-buy" rating in a report on Friday, June 12th. Zacks Research cut shares of Innovex International from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Piper Sandler increased their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Innovex International currently has an average rating of "Moderate Buy" and a consensus price target of $32.25.
View Our Latest Stock Report on Innovex International
About Innovex International
(
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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