Teachers Retirement System of The State of Kentucky Has $1.66 Million Holdings in Innovex International, Inc. $INVX

Key Points

• Teachers Retirement System of The State of Kentucky boosted its Innovex International stake by 614.9% in the first quarter, ending with 68,102 shares worth about $1.66 million.
• Several other institutional investors also added to or initiated positions in INVX, indicating broad hedge fund interest in the stock.
• Analyst sentiment is generally positive: Innovex International has a “Buy” consensus rating and a consensus price target of $32.25, above its recent trading price around $25.90.

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 614.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,102 shares of the company's stock after acquiring an additional 58,576 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of Innovex International worth $1,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Innovex International during the 4th quarter worth about $12,702,000. Simcoe Capital LLC acquired a new stake in shares of Innovex International in the 4th quarter valued at about $3,625,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Innovex International in the fourth quarter valued at about $919,000. Avidian Wealth Enterprises LLC bought a new stake in shares of Innovex International in the fourth quarter valued at about $5,821,000. Finally, Royce & Associates LP acquired a new position in shares of Innovex International during the fourth quarter worth about $415,000.

Analyst Upgrades and Downgrades

INVX has been the subject of a number of research reports. Zacks Research upgraded Innovex International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 16th. Barclays upped their price target on Innovex International from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Piper Sandler raised their price target 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. Jefferies Financial Group upgraded shares of Innovex International to a "strong-buy" rating in a report on Friday, June 12th. Finally, Wall Street Zen raised shares of Innovex International from a "hold" rating to a "buy" rating in a research report on Monday, June 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Innovex International has a consensus rating of "Buy" and a consensus price target of $32.25.

Innovex International Stock Performance

INVX opened at $25.90 on Thursday. The business's 50-day simple moving average is $26.97 and its 200 day simple moving average is $25.86. Innovex International, Inc. has a 52-week low of $14.65 and a 52-week high of $32.25. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. The firm has a market capitalization of $1.78 billion, a PE ratio of 34.53 and a beta of 0.83.

Insider Activity

In other news, insider Mark Reddout sold 10,750 shares of the stock in a transaction that occurred 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 owned 134,312 shares of the company's stock, valued at approximately $3,760,736. This represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 34.90% of the stock is currently owned by corporate insiders.

Innovex International 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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