Olympiad Research LP Takes Position in Innovex International, Inc. (NYSE:INVX)

Olympiad Research LP bought a new stake in shares of Innovex International, Inc. (NYSE:INVX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,586 shares of the company’s stock, valued at approximately $357,000.

A number of other hedge funds have also recently modified their holdings of INVX. Principal Financial Group Inc. bought a new position in shares of Innovex International during the third quarter valued at approximately $2,383,000. JPMorgan Chase & Co. purchased a new stake in shares of Innovex International in the third quarter valued at approximately $2,261,000. Barclays PLC purchased a new stake in shares of Innovex International in the third quarter valued at approximately $874,000. Central Pacific Bank Trust Division purchased a new stake in shares of Innovex International in the fourth quarter valued at approximately $63,000. Finally, Moody National Bank Trust Division purchased a new stake in shares of Innovex International in the fourth quarter valued at approximately $234,000.

Innovex International Stock Performance

Shares of NYSE INVX opened at $16.67 on Friday. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.82 and a beta of 0.89. The company has a 50 day moving average price of $15.50. Innovex International, Inc. has a 52-week low of $12.54 and a 52-week high of $25.19.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Pickering Energy Partners upgraded Innovex International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Barclays lowered their price target on Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a report on Tuesday, November 26th.

Insiders Place Their Bets

In related news, CFO Kendal Reed bought 3,765 shares of the stock in a transaction on Friday, December 13th. The stock was bought at an average price of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the acquisition, the chief financial officer now directly owns 186,232 shares in the company, valued at approximately $2,473,160.96. This represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by company 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.