State of Wyoming Makes New $774,000 Investment in Innovex International, Inc. $INVX

State of Wyoming acquired a new stake in Innovex International, Inc. (NYSE:INVX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,205 shares of the company’s stock, valued at approximately $774,000.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of 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 buying an additional 335,839 shares in the last quarter. Wellington Management Group LLP grew its stake in Innovex International by 52.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after acquiring an additional 837,027 shares during the period. State Street Corp grew its stake in Innovex International by 0.7% in the 4th quarter. State Street Corp now owns 1,601,149 shares of the company’s stock valued at $35,017,000 after acquiring an additional 11,160 shares during the period. MetLife Investment Management LLC grew its stake in Innovex International by 2.6% in the 4th quarter. MetLife Investment Management LLC now owns 828,757 shares of the company’s stock valued at $18,125,000 after acquiring an additional 20,873 shares during the period. Finally, Bank of America Corp DE increased its holdings in Innovex International by 102.5% in the 1st quarter. Bank of America Corp DE now owns 654,265 shares of the company’s stock worth $15,958,000 after acquiring an additional 331,178 shares in the last quarter.

Innovex International Stock Up 0.0%

Shares of INVX opened at $31.24 on Monday. The stock has a 50 day moving average price of $26.88 and a 200 day moving average price of $26.54. Innovex International, Inc. has a one year low of $15.83 and a one year high of $33.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.32 and a current ratio of 5.01. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 35.10 and a beta of 0.83.

Innovex International (NYSE:INVX) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Innovex International had a return on equity of 7.12% and a net margin of 6.17%.The company had revenue of $244.90 million for the quarter, compared to analyst estimates of $241.58 million. Equities research analysts forecast that Innovex International, Inc. will post 1.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on INVX. Citigroup assumed coverage on shares of Innovex International in a research report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Jefferies Financial Group upgraded shares of Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Weiss Ratings raised shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Piper Sandler upped their price target 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. Finally, Barclays raised their price target on shares of Innovex International from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Innovex International has an average rating of “Moderate Buy” and an average target price of $32.50.

Insider Transactions at Innovex International

In related news, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the completion of the sale, the director owned 311 shares of the company’s stock, valued at approximately $8,928.81. This represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Reddout sold 10,750 shares of the 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 completion of the sale, the insider owned 134,312 shares of the company’s stock, valued at approximately $3,760,736. The trade was a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,975,217 shares of company stock valued at $286,393,748. Corporate insiders own 34.90% of the company’s stock.

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.