Key Points
- CFO Kendal Reed sold 20,868 shares at an average price of $25.04, totaling about $522,535. After the sale, Reed directly owned 188,566 shares, a 9.96% reduction in his holdings.
- Innovex reported quarterly EPS of $0.37, below the $0.39 analyst consensus; revenue of $265.05 million also came in slightly under estimates.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $32.80. Shares traded at $25.24 on Friday, up 0.8%.
Innovex International, Inc. (NYSE:INVX - Get Free Report) CFO Kendal Reed sold 20,868 shares of the business's stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $25.04, for a total transaction of $522,534.72. Following the completion of the sale, the chief financial officer directly owned 188,566 shares of the company's stock, valued at $4,721,692.64. This represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Innovex International Trading Up 0.8%
NYSE INVX traded up $0.20 during trading on Friday, hitting $25.24. 251,186 shares of the company's stock traded hands, compared to its average volume of 636,204. The stock has a fifty day moving average of $28.02 and a two-hundred day moving average of $27.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.43 and a quick ratio of 2.80. Innovex International, Inc. has a 12-month low of $20.66 and a 12-month high of $33.71. The firm has a market cap of $1.77 billion, a P/E ratio of 36.58 and a beta of 0.98.
Innovex International (NYSE:INVX - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). The company had revenue of $265.05 million for the quarter, compared to the consensus estimate of $265.64 million. Innovex International had a net margin of 4.75% and a return on equity of 8.29%. As a group, sell-side analysts expect that Innovex International, Inc. will post 1.48 EPS for the current year.
Hedge Funds Weigh In On Innovex International
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Innovex International during the second quarter valued at about $160,389,000. Dimensional Fund Advisors LP boosted its holdings in shares of Innovex International by 14.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company's stock worth $64,544,000 after purchasing an additional 335,839 shares during the period. Bank of America Corp DE bought a new stake in shares of Innovex International in the second quarter worth about $16,540,000. Heartland Advisors Inc. grew its stake in shares of Innovex International by 3.9% in the third quarter. Heartland Advisors Inc. now owns 461,902 shares of the company's stock worth $12,481,000 after purchasing an additional 17,529 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Innovex International by 2.3% in the third quarter. First Trust Advisors LP now owns 453,000 shares of the company's stock worth $12,240,000 after purchasing an additional 10,321 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on INVX. JPMorgan Chase & Co. initiated coverage on Innovex International in a research report on Tuesday, October 27th. They set a "neutral" rating and a $33.00 price target on the stock. Citigroup boosted their price objective on Innovex International from $35.00 to $36.00 and gave the company a "buy" rating in a research report on Wednesday, August 26th. Weiss Ratings lowered Innovex International from a "buy (b-)" rating to a "hold (c)" rating in a research note on Monday, November 9th. Wall Street Zen cut shares of Innovex International from a "buy" rating to a "hold" rating in a report on Monday, August 17th. Finally, Barclays lifted their target price on shares of Innovex International from $26.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.80.
Check Out Our Latest Stock Analysis on INVX
About Innovex International
(
Get Free Report)
Innovex International designs and manufactures equipment and technologies used in the construction, completion and production of oil and natural gas wells. Its offerings include wellhead and subsea systems, drilling and completion equipment, downhole tools, and products used to connect and support well operations. The company was formed through the combination of Dril-Quip and Innovex Downhole Solutions, which joined in 2025. Innovex serves energy customers in major oil and gas regions around the world, with products and services intended for both onshore and offshore operations.
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