Legal & General Group Plc Makes New $2.50 Million Investment in Innovex International, Inc. $INVX

Legal & General Group Plc purchased a new stake in Innovex International, Inc. (NYSE:INVX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 100,753 shares of the company’s stock, valued at approximately $2,499,000. Legal & General Group Plc owned about 0.14% of Innovex International as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of INVX. BlackRock Inc. bought a new stake in shares of Innovex International during the 2nd quarter worth $160,389,000. Dimensional Fund Advisors LP grew its position in Innovex International by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock valued at $64,544,000 after acquiring an additional 335,839 shares during the last quarter. Wellington Management Group LLP raised its stake in Innovex International by 52.4% during the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after acquiring an additional 837,027 shares in the last quarter. State Street Corp raised its stake in Innovex International by 0.7% during the fourth quarter. State Street Corp now owns 1,601,149 shares of the company’s stock worth $35,017,000 after acquiring an additional 11,160 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Innovex International by 2.6% in the fourth quarter. MetLife Investment Management LLC now owns 828,757 shares of the company’s stock worth $18,125,000 after acquiring an additional 20,873 shares during the last quarter.

Innovex International Stock Down 2.3%

Innovex International stock opened at $30.08 on Friday. Innovex International, Inc. has a 1-year low of $16.29 and a 1-year high of $33.71. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 33.80 and a beta of 0.87. The company has a current ratio of 5.01, a quick ratio of 3.32 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $27.74 and a 200 day simple moving average of $27.03.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The firm 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%. On average, analysts predict that Innovex International, Inc. will post 1.44 earnings per share for the current year.

Insider Buying and Selling

In other Innovex International news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $28.71, for a total value of $143,550,000.00. Following the completion of the sale, the director directly owned 311 shares in the company, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the completion of the transaction, the director directly owned 311 shares of the company’s stock, valued at $8,928.81. This trade represents a 99.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 9,964,467 shares of company stock worth $286,092,748. 34.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Innovex International from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 17th. Barclays increased their price target on Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Citigroup boosted their price objective on Innovex International from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Weiss Ratings upgraded Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Finally, Piper Sandler lifted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.75.

Innovex International Company Profile

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.