Innovex International (INVX) Expected to Announce Quarterly Earnings on Monday

Key Points

• Earnings due May 4: Innovex is set to report quarterly results after market close on Monday, May 4, with analysts projecting $0.24 EPS and $233.226M in revenue (consensus $1.00 EPS for the current fiscal year and $2.00 next year).
• Large insider selling: CEO Adam Anderson sold 18,837 shares and Director Co‑Invest Fund L.P. sold 6,612,500 shares (a 99.99% reduction); insiders have disposed of 13,257,078 shares worth about $326.1M in the past 90 days, while insiders still own 34.90% of the company.
• Stock and analyst snapshot: Shares trade near $27.91 with a market cap of $1.91B and a P/E of 23.26; analysts’ ratings range from Strong Buy to Strong Sell, with a consensus "Hold" and a $25.50 target price.

Innovex International (NYSE:INVX - Get Free Report) is expected to be announcing its results after the market closes on Monday, May 4th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $233.2260 million for the quarter.

Innovex International (NYSE:INVX - Get Free Report) last announced its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). The company had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%. On average, analysts expect Innovex International to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Innovex International Stock Up 0.0%

Shares of NYSE:INVX opened at $27.91 on Monday. The firm has a market cap of $1.91 billion, a P/E ratio of 23.26 and a beta of 0.75. 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 has a 12-month low of $11.93 and a 12-month high of $29.48. The business has a fifty day simple moving average of $25.71 and a 200 day simple moving average of $23.49.

Insider Transactions at Innovex International

In other news, CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the completion of the transaction, the chief executive officer directly owned 466,744 shares of the company's stock, valued at approximately $13,302,204. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of Innovex International stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the transaction, the director directly owned 399 shares of the company's stock, valued at approximately $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,257,078 shares of company stock valued at $326,097,112. Corporate insiders own 34.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of Innovex International by 418.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company's stock worth $55,000 after acquiring an additional 2,843 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Innovex International in the 4th quarter worth about $55,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Innovex International by 2,334.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,868 shares of the company's stock worth $106,000 after acquiring an additional 4,668 shares in the last quarter. Polymer Capital Management US LLC bought a new position in shares of Innovex International in the 3rd quarter worth about $197,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Innovex International in the 4th quarter worth about $209,000.

Wall Street Analyst Weigh In

INVX has been the subject of several analyst reports. Zacks Research lowered Innovex International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 4th. Weiss Ratings lowered Innovex International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, February 27th. Finally, Barclays raised their target price on Innovex International from $20.00 to $24.00 and gave the stock 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 assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.50.

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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