Sei Investments Co. grew its position in Innovex International, Inc. (NYSE:INVX - Free Report) by 70.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 126,288 shares of the company's stock after acquiring an additional 52,218 shares during the quarter. Sei Investments Co. owned about 0.18% of Innovex International worth $3,080,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in INVX. Simcoe Capital LLC acquired a new stake in Innovex International during the 4th quarter worth $3,625,000. Hussman Strategic Advisors Inc. acquired a new stake in shares of Innovex International in the fourth quarter valued at about $919,000. Royce & Associates LP acquired a new stake in shares of Innovex International in the fourth quarter valued at about $415,000. Avidian Wealth Enterprises LLC purchased a new position in shares of Innovex International in the fourth quarter worth about $5,821,000. Finally, Dimensional Fund Advisors LP lifted its stake 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 worth $64,544,000 after buying an additional 335,839 shares in the last quarter.
Innovex International Stock Performance
Shares of INVX stock opened at $27.96 on Friday. The firm's 50 day moving average price is $26.60 and its 200-day moving average price is $26.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.01. Innovex International, Inc. has a one year low of $15.76 and a one year high of $33.71. The firm has a market cap of $1.96 billion, a P/E ratio of 31.41 and a beta of 0.83.
Innovex International (NYSE:INVX - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $244.90 million during the quarter, compared to the consensus estimate of $241.58 million. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. As a group, equities research analysts predict that Innovex International, Inc. will post 1.44 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Innovex International to a "strong-buy" rating in a research note on Friday, June 12th. Piper Sandler raised their target price on shares of Innovex International from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Wall Street Zen cut Innovex International from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research lowered Innovex International from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 17th. Finally, Citigroup initiated coverage on Innovex International in a report on Thursday, May 7th. They issued a "buy" rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $32.25.
Check Out Our Latest Analysis on INVX
Insider Activity at Innovex International
In other news, insider Mark Reddout sold 10,750 shares of Innovex International stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total value of $301,000.00. Following the completion of the sale, the insider directly owned 134,312 shares of the company's stock, valued at approximately $3,760,736. The trade was a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 34.90% of the stock is currently owned by corporate insiders.
Innovex International Profile
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Free Report)
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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