Avidian Wealth Enterprises LLC Acquires Shares of 266,162 Innovex International, Inc. $INVX

Key Points

• Avidian Wealth Enterprises LLC bought 266,162 shares of Innovex International (≈$5.82 million), representing about 0.39% of the company per its SEC filing.
• Heavy insider selling occurred last quarter—insiders sold 13,257,078 shares worth $326.1 million, including a 6,612,500‑share sale by Director Co‑Invest Fund L.P. and an 18,837‑share sale by CEO Adam Anderson; insiders still hold 34.90%.
• Analyst views are mixed with a MarketBeat consensus of "Hold" and a $25.50 target; the company recently missed EPS ($0.20 vs. $0.29 est.) but beat revenue expectations ($273.6M vs. $240M).

Avidian Wealth Enterprises LLC acquired a new stake in Innovex International, Inc. (NYSE:INVX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 266,162 shares of the company's stock, valued at approximately $5,821,000. Avidian Wealth Enterprises LLC owned about 0.39% of Innovex International as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INVX. Heartland Advisors Inc. bought a new position in shares of Innovex International during the 3rd quarter valued at approximately $3,708,000. Fisher Asset Management LLC grew its position in shares of Innovex International by 69.0% during the 3rd quarter. Fisher Asset Management LLC now owns 228,887 shares of the company's stock valued at $4,244,000 after acquiring an additional 93,412 shares during the period. SG Americas Securities LLC bought a new position in Innovex International in the 4th quarter worth approximately $12,702,000. Citigroup Inc. boosted its holdings in Innovex International by 79.8% in the 3rd quarter. Citigroup Inc. now owns 197,020 shares of the company's stock worth $3,653,000 after buying an additional 87,458 shares during the period. Finally, Exencial Wealth Advisors LLC bought a new position in Innovex International in the 3rd quarter worth approximately $608,000.

Insider Buying and Selling at Innovex International

In other Innovex International news, CEO Adam Anderson sold 18,837 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total value of $536,854.50. Following the transaction, the chief executive officer owned 466,744 shares in the company, valued at approximately $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the transaction, the director owned 399 shares in the company, valued at $9,811.41. The trade was a 99.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 13,257,078 shares of company stock worth $326,097,112. 34.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INVX has been the subject of several analyst reports. Weiss Ratings downgraded shares of Innovex International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 27th. Zacks Research cut shares of Innovex International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Finally, Barclays raised their price objective on shares of Innovex International from $20.00 to $24.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Innovex International presently has a consensus rating of "Hold" and a consensus price target of $25.50.

Innovex International Price Performance

Shares of NYSE:INVX opened at $27.67 on Monday. The stock has a market cap of $1.90 billion, a PE ratio of 23.06 and a beta of 0.84. The company's fifty day moving average is $25.96 and its 200 day moving average is $23.78. Innovex International, Inc. has a 52 week low of $11.93 and a 52 week high of $29.48. The company has a quick ratio of 3.24, a current ratio of 4.91 and a debt-to-equity ratio of 0.02.

Innovex International (NYSE:INVX - Get Free Report) last issued its earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.09). The business had revenue of $273.60 million during the quarter, compared to analysts' expectations of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%. Research analysts anticipate that Innovex International, Inc. will post 1.32 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.