Bath Savings Trust Co Sells 422 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bath Savings Trust Co reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,084 shares of the company’s stock after selling 422 shares during the quarter. Bath Savings Trust Co’s holdings in IDEXX Laboratories were worth $7,594,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in IDEXX Laboratories by 117.6% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 407 shares of the company’s stock valued at $171,000 after acquiring an additional 220 shares during the period. Wellington Management Group LLP grew its position in shares of IDEXX Laboratories by 161.2% during the 4th quarter. Wellington Management Group LLP now owns 195,369 shares of the company’s stock worth $80,773,000 after purchasing an additional 120,558 shares in the last quarter. 111 Capital acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $866,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $11,226,000. Finally, PKO Investment Management Joint Stock Co acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $1,158,000. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,046 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total value of $537,372.04. Following the sale, the director now owns 262 shares in the company, valued at $134,599.88. This trade represents a 79.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $515.55 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $41.46 billion, a price-to-earnings ratio of 48.32, a P/E/G ratio of 3.41 and a beta of 1.52. The firm’s 50 day simple moving average is $447.90 and its 200 day simple moving average is $436.67. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.60.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IDXX. Morgan Stanley increased their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Piper Sandler increased their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Stifel Nicolaus increased their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research report on Monday, May 19th. Finally, Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $536.00.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.