IDEXX Laboratories (NASDAQ:IDXX) EVP Michael Lane Sells 3,979 Shares of Stock

IDEXX Laboratories, Inc. (NASDAQ:IDXX) EVP Michael Lane sold 3,979 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $688.64, for a total value of $2,740,098.56. Following the sale, the executive vice president owned 4,076 shares in the company, valued at approximately $2,806,896.64. This represents a 49.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IDEXX Laboratories Trading Down 4.0%

NASDAQ IDXX opened at $670.71 on Friday. The company has a market cap of $52.84 billion, a PE ratio of 45.23 and a beta of 1.55. The company has a current ratio of 1.19, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16. IDEXX Laboratories, Inc. has a 12 month low of $500.61 and a 12 month high of $769.98. The stock has a 50 day moving average of $544.13 and a 200-day moving average of $573.40.

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

Analyst Ratings Changes

A number of research analysts have recently commented on IDXX shares. UBS Group lifted their price objective on shares of IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group started coverage on shares of IDEXX Laboratories in a report on Friday, October 16th. They issued a “buy” rating and a $740.00 target price on the stock. KeyCorp started coverage on shares of IDEXX Laboratories in a research note on Monday, October 12th. They issued a “sector weight” rating for the company. Finally, Barclays reduced their price target on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $719.55.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in IDEXX Laboratories during the second quarter worth $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of IDEXX Laboratories by 4.6% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock valued at $479,844,000 after purchasing an additional 39,700 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of IDEXX Laboratories by 52.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after purchasing an additional 288,471 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of IDEXX Laboratories by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock valued at $322,145,000 after purchasing an additional 23,582 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of IDEXX Laboratories by 97.3% in the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock valued at $211,146,000 after purchasing an additional 197,808 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Key IDEXX Laboratories News

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

• Positive Sentiment: Morgan Stanley raised its price target on IDEXX, a potentially supportive analyst signal; the report provided here does not specify the new target. Morgan Stanley price target report
• Positive Sentiment: IDEXX’s Q3 results were described as best-in-class. The company reported EPS of $3.96, above the $3.71 consensus, and revenue of $1.21 billion, ahead of estimates and up 9.9% year over year. IDEXX Q3 results analysis
• Negative Sentiment: A Seeking Alpha article downgraded the stock, arguing that despite IDEXX’s strong business, its shares are too expensive. Valuation concerns may limit investor appetite. IDEXX valuation downgrade
• Negative Sentiment: Four directors and executives reported selling a combined 39,225 shares on November 4, worth about $27.4 million. Each reduced their reported holdings, a potential near-term sentiment headwind, though insider sales alone do not establish the reason for selling. Read More., Read More., Read More., Read More..

About IDEXX Laboratories

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.