Heartland Advisors Inc. Raises Holdings in Innovex International, Inc. $INVX

Key Points

• Heartland Advisors Inc. increased its stake in Innovex International by 35.8% in the first quarter, adding 107,332 shares to bring its total to 407,332 shares valued at about $9.94 million.
• Several other institutional investors also raised their positions, while insider Mark Reddout sold 10,750 shares on June 2 for about $301,000, reducing his ownership by 7.41%.
• Wall Street sentiment on Innovex is generally positive, with an average Buy rating and a consensus price target of $32.25; shares recently traded at $25.75, near the midpoint of their 52-week range.

Heartland Advisors Inc. lifted its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 35.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 407,332 shares of the company's stock after purchasing an additional 107,332 shares during the period. Heartland Advisors Inc. owned about 0.59% of Innovex International worth $9,935,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Lesa Sroufe & Co increased its position in Innovex International by 1.0% during the first quarter. Lesa Sroufe & Co now owns 122,788 shares of the company's stock worth $2,995,000 after buying an additional 1,253 shares during the period. Covestor Ltd lifted its stake in Innovex International by 77.7% in the fourth quarter. Covestor Ltd now owns 3,284 shares of the company's stock valued at $72,000 after buying an additional 1,436 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company's stock valued at $379,000 after acquiring an additional 1,467 shares during the period. &PARTNERS boosted its holdings in shares of Innovex International by 7.0% in the fourth quarter. &PARTNERS now owns 24,220 shares of the company's stock valued at $530,000 after acquiring an additional 1,587 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Innovex International by 1.6% during the third quarter. Legal & General Group Plc now owns 105,967 shares of the company's stock worth $1,965,000 after acquiring an additional 1,681 shares during the last quarter.

Insider Buying and Selling at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total value of $301,000.00. Following the sale, the insider owned 134,312 shares of the company's stock, valued at $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings cut shares of Innovex International from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Jefferies Financial Group upgraded shares of Innovex International to a "strong-buy" rating in a research note on Friday, June 12th. Barclays raised 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. Citigroup started coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a "buy" rating and a $35.00 price objective on the stock. Finally, Piper Sandler upped their target price on shares of Innovex International from $33.00 to $34.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $32.25.

Innovex International Trading Up 0.2%

Shares of INVX stock opened at $25.75 on Friday. The company has a market capitalization of $1.77 billion, a P/E ratio of 34.34 and a beta of 0.83. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The business's 50 day moving average is $26.94 and its two-hundred day moving average is $25.89. Innovex International, Inc. has a twelve month low of $15.25 and a twelve month high of $32.25.

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.

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