Bessemer Group Inc. Raises Stock Position in Innovex International, Inc. $INVX

Bessemer Group Inc. grew its stake in shares of Innovex International, Inc. (NYSE:INVX) by 55.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 208,753 shares of the company’s stock after acquiring an additional 74,600 shares during the period. Bessemer Group Inc.’s holdings in Innovex International were worth $5,091,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Innovex International in the first quarter worth approximately $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock worth $379,000 after purchasing an additional 1,467 shares during the period. Caxton Associates LLP bought a new stake in Innovex International during the 1st quarter valued at $270,000. Empowered Funds LLC lifted its holdings in shares of Innovex International by 8.2% in the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after buying an additional 4,386 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Innovex International by 11.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock worth $1,764,000 after buying an additional 10,401 shares during the period.

Insider Buying and Selling at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the firm’s 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 directly owned 134,312 shares in the company, valued at approximately $3,760,736. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 34.90% of the company’s stock.

Innovex International Stock Performance

Shares of Innovex International stock opened at $25.56 on Tuesday. The company has a market capitalization of $1.76 billion, a PE ratio of 34.08 and a beta of 0.83. 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 company has a 50-day simple moving average of $26.91 and a two-hundred day simple moving average of $25.94. Innovex International, Inc. has a one year low of $15.25 and a one year high of $32.25.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings downgraded Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Zacks Research raised shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 16th. Barclays increased their target price on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Citigroup assumed coverage on shares of Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, Wall Street Zen raised Innovex International from a “hold” rating to a “buy” rating in a research report on Monday, June 22nd. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $32.25.

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.