Welch & Forbes LLC trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,707 shares of the company’s stock after selling 1,038 shares during the quarter. IDEXX Laboratories comprises 1.0% of Welch & Forbes LLC’s holdings, making the stock its 23rd biggest position. Welch & Forbes LLC owned about 0.21% of IDEXX Laboratories worth $47,187,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in IDXX. Gradient Investments LLC raised its position in shares of IDEXX Laboratories by 1,900.0% during the 4th quarter. Gradient Investments LLC now owns 100 shares of the company’s stock worth $26,000 after buying an additional 95 shares in the last quarter. Lenox Wealth Management Inc. bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $31,000. Thor Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $34,000. Lenox Wealth Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $34,000. Finally, Usca Ria LLC bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $36,000. Institutional investors own 86.41% of the company’s stock.
A number of research firms recently commented on IDXX. BidaskClub upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, January 11th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $278.00 target price on the stock in a report on Friday, January 3rd. ValuEngine downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Guggenheim set a $310.00 target price on shares of IDEXX Laboratories and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $291.14.
Shares of IDEXX Laboratories stock traded down $2.60 during trading on Friday, hitting $287.32. The stock had a trading volume of 14,119 shares, compared to its average volume of 499,059. The stock has a 50 day simple moving average of $261.82 and a 200 day simple moving average of $271.49. The company has a market capitalization of $24.96 billion, a PE ratio of 67.25 and a beta of 0.72. The company has a quick ratio of 0.80, a current ratio of 1.12 and a debt-to-equity ratio of 3.76. IDEXX Laboratories, Inc. has a 1 year low of $196.08 and a 1 year high of $294.57.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.10. The business had revenue of $605.30 million for the quarter, compared to the consensus estimate of $597.09 million. IDEXX Laboratories had a net margin of 17.99% and a return on equity of 405.71%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 4.76 earnings per share for the current fiscal year.
In other news, Director M Anne Szostak sold 3,283 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $279.37, for a total value of $917,171.71. Following the transaction, the director now directly owns 584 shares of the company’s stock, valued at $163,152.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan W. Ayers sold 62,097 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $279.57, for a total transaction of $17,360,458.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,130 shares of company stock worth $31,118,453. 2.70% of the stock is currently owned by insiders.
IDEXX Laboratories Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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