Whittier Trust Co. Sells 94 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Whittier Trust Co. reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,575 shares of the company’s stock after selling 94 shares during the quarter. Whittier Trust Co.’s holdings in IDEXX Laboratories were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 3,766.7% during the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock worth $49,000 after acquiring an additional 113 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $229,000. Banque Transatlantique SA bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $2,681,000. Wealth Enhancement Advisory Services LLC grew its position in shares of IDEXX Laboratories by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock worth $10,731,000 after buying an additional 2,931 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of IDEXX Laboratories by 42.7% in the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $918,000 after acquiring an additional 654 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on IDXX shares. Leerink Partners upped their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday. Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Jefferies Financial Group began coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price target on the stock. Morgan Stanley raised their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus increased their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $560.33.

IDEXX Laboratories Stock Down 0.4%

IDXX stock opened at $518.71 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $549.52. The stock has a market capitalization of $41.71 billion, a P/E ratio of 47.94, a P/E/G ratio of 3.80 and a beta of 1.54. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $523.12 and a 200-day simple moving average of $462.00.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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 company had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. IDEXX Laboratories’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director directly owned 1,801 shares of the company’s stock, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.98% of the stock is currently owned by corporate insiders.

About IDEXX Laboratories

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.