9,335 IDEXX Laboratories, Inc. $IDXX Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 233,172 shares of the company’s stock after selling 9,335 shares during the period. Pictet Asset Management Holding SA’s holdings in IDEXX Laboratories were worth $121,844,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IDXX. Alps Advisors Inc. raised its holdings in shares of IDEXX Laboratories by 10.1% during the third quarter. Alps Advisors Inc. now owns 1,956 shares of the company’s stock valued at $1,021,000 after buying an additional 180 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of IDEXX Laboratories by 12.5% in the third quarter. Ashton Thomas Private Wealth LLC now owns 632 shares of the company’s stock valued at $330,000 after buying an additional 70 shares during the period. Alta Advisers Ltd acquired a new stake in shares of IDEXX Laboratories in the third quarter valued at $288,000. Legacies Wealth LLC bought a new position in IDEXX Laboratories during the third quarter valued at about $176,000. Finally, Pine Haven Investment Counsel Inc boosted its stake in IDEXX Laboratories by 3.7% during the third quarter. Pine Haven Investment Counsel Inc now owns 1,439 shares of the company’s stock valued at $751,000 after buying an additional 51 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Trending Headlines about IDEXX Laboratories

Here are the key news stories impacting IDEXX Laboratories this week:

• Positive Sentiment: A Zacks article says IDEXX’s above-average financial growth could help it outperform, bolstering the growth-investment case. Zacks growth-investor article
• Positive Sentiment: Morgan Stanley raised its price target on IDXX, a potentially supportive analyst signal; the available report does not state the revised target. Morgan Stanley price-target report
• Positive Sentiment: Recent quarterly results beat expectations: IDEXX reported EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion versus $1.19 billion expected. Revenue grew 9.9% year over year. IDEXX quarterly results analysis
• Negative Sentiment: Four directors and executives sold a combined 39,225 shares on November 4, worth about $27.4 million, and each reduced their reported holdings. The sales may weigh on sentiment, although insider transactions do not by themselves indicate a negative company outlook. Insider-trading report
• Negative Sentiment: A Seeking Alpha article downgraded IDXX, arguing the shares are expensive despite the company’s business quality. Valuation concerns could temper the positive effect of earnings growth. IDEXX valuation downgrade

Analysts Set New Price Targets

A number of research analysts recently issued reports on IDXX shares. The Goldman Sachs Group assumed coverage on IDEXX Laboratories in a report on Friday, October 16th. They set a “buy” rating and a $740.00 target price on the stock. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Barclays reduced their price objective on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group lowered their price objective on shares of IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.55.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $676.04 on Monday. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. IDEXX Laboratories, Inc. has a 1-year low of $500.61 and a 1-year high of $769.98. The stock’s fifty day simple moving average is $546.75 and its 200-day simple moving average is $573.35. The company has a market capitalization of $53.26 billion, a price-to-earnings ratio of 45.59 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, November 2nd. The company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.71 by $0.25. IDEXX Laboratories had a net margin of 25.36% and a return on equity of 71.04%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $3.22 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 3,979 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $688.64, for a total transaction of $2,740,098.56. Following the transaction, the executive vice president directly owned 4,076 shares in the company, valued at $2,806,896.64. This trade represents a 49.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel M. Junius sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $704.07, for a total value of $844,884.00. Following the sale, the director directly owned 2,361 shares of the company’s stock, valued at $1,662,309.27. The trade was a 33.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,428 shares of company stock valued at $28,567,934 in the last ninety days. 0.79% of the stock is currently owned by insiders.

IDEXX Laboratories Profile

IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices.

The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.