IDEXX Laboratories (NASDAQ:IDXX) EVP Sells $2,740,098.56 in Stock

IDEXX Laboratories, Inc. (NASDAQ:IDXX) 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 completion of the transaction, the executive vice president directly owned 4,076 shares in the company, valued at $2,806,896.64. This represents a 49.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

IDEXX Laboratories Stock Performance

Shares of IDXX traded down $27.84 during midday trading on Thursday, hitting $670.71. 873,031 shares of the stock traded hands, compared to its average volume of 583,252. IDEXX Laboratories, Inc. has a 1-year low of $500.61 and a 1-year high of $769.98. The firm has a market capitalization of $52.85 billion, a PE ratio of 45.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 1.19. The business’s 50 day moving average price is $541.78 and its two-hundred day moving average price is $573.62.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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 return on equity of 71.04% and a net margin of 25.36%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company posted $3.22 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts predict that IDEXX Laboratories, Inc. will post 15.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on IDXX shares. UBS Group increased their price target on IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday. Leerink Partners dropped their price objective on IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Barclays cut their price objective on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Citigroup raised their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Seven 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $719.55.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of IDEXX Laboratories during the second quarter valued at $628,223,000. Arrowstreet Capital Limited Partnership raised its position in IDEXX Laboratories by 52.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after buying an additional 288,471 shares during the period. International Assets Investment Management LLC raised its position in IDEXX Laboratories by 30,484.1% during the third quarter. International Assets Investment Management LLC now owns 234,274 shares of the company’s stock valued at $122,336,000 after buying an additional 233,508 shares during the period. Alyeska Investment Group L.P. lifted its stake in IDEXX Laboratories by 97.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after acquiring an additional 197,808 shares in the last quarter. Finally, American Capital Management Inc. purchased a new stake in IDEXX Laboratories in the 2nd quarter worth about $85,341,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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.