Mark Reddout Sells 10,750 Shares of Innovex International (NYSE:INVX) Stock

Innovex International, Inc. (NYSE:INVX) insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the transaction, the insider directly owned 134,312 shares in the company, valued at $3,760,736. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Innovex International Stock Up 3.7%

Shares of Innovex International stock opened at $28.38 on Friday. The firm’s 50 day moving average price is $27.04 and its 200-day moving average price is $25.14. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 52-week low of $14.65 and a 52-week high of $32.25. The company has a market cap of $1.95 billion, a P/E ratio of 37.83 and a beta of 0.82.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INVX shares. Piper Sandler lifted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup started coverage on shares of Innovex International in a research report on Thursday, May 7th. They issued a “buy” rating and a $35.00 price objective on the stock. Weiss Ratings downgraded shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, Barclays lifted their price objective on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.67.

Institutional Trading of Innovex International

A number of institutional investors have recently bought and sold shares of INVX. AQR Capital Management LLC acquired a new stake in Innovex International in the 1st quarter worth approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Innovex International by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after purchasing an additional 1,467 shares in the last quarter. Caxton Associates LLP acquired a new stake in Innovex International in the 1st quarter worth approximately $270,000. Empowered Funds LLC boosted its stake in Innovex International by 8.2% in the 1st 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 boosted its stake in Innovex International by 11.8% in the 1st 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.

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.