JPMorgan Chase & Co. Makes New Investment in Innovex International, Inc. (NYSE:INVX)

JPMorgan Chase & Co. purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 154,032 shares of the company’s stock, valued at approximately $2,261,000. JPMorgan Chase & Co. owned about 0.23% of Innovex International as of its most recent SEC filing.

Separately, Principal Financial Group Inc. bought a new stake in shares of Innovex International during the 3rd quarter worth $2,383,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INVX. Barclays lowered their price target on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a research note on Tuesday, November 26th. Pickering Energy Partners upgraded shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th.

Innovex International Trading Up 0.3 %

Shares of NYSE INVX opened at $17.34 on Wednesday. Innovex International, Inc. has a 1 year low of $12.54 and a 1 year high of $25.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The stock has a market cap of $1.17 billion, a P/E ratio of 12.30 and a beta of 0.89.

Insiders Place Their Bets

In other Innovex International news, CFO Kendal Reed acquired 3,765 shares of the business’s stock in a transaction on 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 owns 186,232 shares in the company, valued at $2,473,160.96. This trade represents a 2.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

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.