49,355 Shares in Innovex International, Inc. $INVX Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 49,355 Innovex International shares worth approximately $1.224 million, representing about 0.07% of the company. Several other institutions also increased their positions, including Wellington Management, Bank of America and Bridgeway Capital.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $32.75. Innovex recently beat quarterly expectations, reporting $0.36 in EPS versus the $0.31 consensus and revenue of $244.9 million.
• Insiders sold nearly 10 million shares worth approximately $286.4 million over the past three months, including a 5-million-share sale by Amberjack Capital Partners. Shares recently opened at $30.10, below the 52-week high of $33.71.

Deutsche Bank AG purchased a new stake in shares of Innovex International, Inc. (NYSE:INVX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 49,355 shares of the company's stock, valued at approximately $1,224,000. Deutsche Bank AG owned approximately 0.07% of Innovex International at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised 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 worth $45,141,000 after acquiring an additional 837,027 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 boosted its position in Innovex International by 102.5% in the first quarter. Bank of America Corp DE now owns 654,265 shares of the company's stock valued at $15,958,000 after buying an additional 331,178 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Innovex International by 371.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company's stock worth $5,376,000 after buying an additional 271,247 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Innovex International during the 2nd quarter worth approximately $6,605,000.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Innovex International news, Director Amberjack Capital Partners, L. sold 5,000,000 shares of the 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 $143,550,000.00. Following the completion of the transaction, the director owned 311 shares of the company's stock, valued at $8,928.81. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Reddout sold 10,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $30.00, for a total value of $300,000.00. Following the completion of the transaction, the insider directly owned 124,312 shares of the company's stock, valued at approximately $3,729,360. This represents a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 9,975,217 shares of company stock worth $286,393,748. Corporate insiders own 34.90% of the company's stock.

Innovex International Trading Down 0.0%

Shares of INVX stock opened at $30.10 on Monday. Innovex International, Inc. has a 1-year low of $16.29 and a 1-year high of $33.71. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 33.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32. The stock has a 50 day simple moving average of $27.24 and a 200-day simple moving average of $26.85.

Innovex International (NYSE:INVX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. The company had revenue of $244.90 million during the quarter, compared to analyst estimates of $241.58 million. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. On average, equities research analysts expect that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.

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.

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