Principal Financial Group Inc. Purchases New Position in Innovex International, Inc. (NYSE:INVX)

Principal Financial Group Inc. acquired a new stake in Innovex International, Inc. (NYSE:INVX) in the third quarter, HoldingsChannel reports. The institutional investor acquired 162,356 shares of the company’s stock, valued at approximately $2,383,000.

Insider Activity

In other Innovex International news, CFO Kendal Reed bought 3,765 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $13.28 per share, with a total value 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 approximately $2,473,160.96. The trade was a 2.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays decreased 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 report on Tuesday, November 26th.

Innovex International Stock Performance

Shares of NYSE INVX opened at $14.88 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. Innovex International, Inc. has a 52-week low of $12.54 and a 52-week high of $25.19. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 10.55 and a beta of 0.88.

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.