9,989 Shares of IDEXX Laboratories, Inc. $IDXX Acquired by Bryn Mawr Trust Advisors LLC

Bryn Mawr Trust Advisors LLC acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,989 shares of the company’s stock, valued at approximately $5,216,000.

Several other hedge funds also recently modified their holdings of IDXX. Hager Investment Management Services LLC boosted its position in IDEXX Laboratories by 88.1% during the third quarter. Hager Investment Management Services LLC now owns 1,860 shares of the company’s stock valued at $971,000 after purchasing an additional 871 shares during the last quarter. Candriam S.C.A. grew its stake in IDEXX Laboratories by 3.4% in the third quarter. Candriam S.C.A. now owns 35,686 shares of the company’s stock valued at $18,703,000 after purchasing an additional 1,168 shares in the last quarter. Alps Advisors Inc. grew its stake in IDEXX Laboratories by 10.1% in the third quarter. Alps Advisors Inc. now owns 1,956 shares of the company’s stock valued at $1,021,000 after purchasing an additional 180 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of IDEXX Laboratories by 12.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 632 shares of the company’s stock worth $330,000 after purchasing an additional 70 shares during the last quarter. Finally, Alta Advisers Ltd acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth approximately $288,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $676.04 on Monday. IDEXX Laboratories, Inc. has a 52-week low of $500.61 and a 52-week high of $769.98. The company has a market capitalization of $53.27 billion, a P/E ratio of 45.59 and a beta of 1.55. The company has a 50-day simple moving average of $546.75 and a 200 day simple moving average of $573.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 1.19.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 71.04% and a net margin of 25.36%. IDEXX Laboratories’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company posted $3.22 earnings per share. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current year.

Key Stories Impacting 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

Insider Buying and Selling

In other news, EVP Sharon Underberg sold 8,906 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $688.59, for a total transaction of $6,132,582.54. Following the completion of the transaction, the executive vice president directly owned 7,169 shares in the company, valued at approximately $4,936,501.71. The trade was a 55.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel Junius sold 1,200 shares of the business’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 transaction, the director directly owned 2,361 shares in the company, valued at $1,662,309.27. The trade was a 33.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 41,428 shares of company stock valued at $28,567,934. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of a number of analyst reports. BTIG Research dropped coverage on IDEXX Laboratories in a research note on Friday, October 30th. They set a “buy” rating on the stock. Leerink Partners decreased their target price on shares of IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Citigroup raised their target price on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. KeyCorp began coverage on shares of IDEXX Laboratories in a report on Monday, October 12th. They set a “sector weight” rating on the stock. Finally, The Goldman Sachs Group started coverage on shares of IDEXX Laboratories in a research report on Friday, October 16th. They set a “buy” rating and a $740.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $719.55.

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.