Principal Financial Group Inc. Takes $2.38 Million Position in Innovex International, Inc. (NYSE:INVX)

Principal Financial Group Inc. purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 162,356 shares of the company’s stock, valued at approximately $2,383,000. Principal Financial Group Inc. owned 0.24% of Innovex International at the end of the most recent reporting period.

Insider Buying and Selling at Innovex International

In other Innovex International news, CFO Kendal Reed acquired 3,765 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $13.28 per share, for a total transaction of $49,999.20. Following the completion of the acquisition, the chief financial officer now directly owns 186,232 shares of the company’s stock, valued at $2,473,160.96. This trade represents a 2.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.10% of the stock is currently owned by insiders.

Innovex International Price Performance

Innovex International stock opened at $14.88 on Friday. Innovex International, Inc. has a fifty-two week low of $12.54 and a fifty-two week high of $25.19. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.55 and a beta of 0.88.

Analyst Ratings Changes

Separately, Barclays cut their price target on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a report on Tuesday, November 26th.

Innovex International Company Profile

Innovex Downhole Solutions Inc designs, manufactures and installs mission-critical drilling & deployment, well construction, completion, production and fishing & intervention solutions to support upstream onshore and offshore activities. Innovex Downhole Solutions Inc, formerly known as Dril-Quip, is based in HOUSTON.