IDEXX Laboratories, Inc. $IDXX Shares Sold by Obermeyer Wealth Partners

Obermeyer Wealth Partners cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.6% during the second quarter, Holdings Channel.com reports. The fund owned 2,277 shares of the company’s stock after selling 109 shares during the period. Obermeyer Wealth Partners’ holdings in IDEXX Laboratories were worth $1,221,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA increased its position in IDEXX Laboratories by 21.2% during the first quarter. Private Trust Co. NA now owns 240 shares of the company’s stock worth $101,000 after buying an additional 42 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of IDEXX Laboratories by 7.5% during the first quarter. D.A. Davidson & CO. now owns 1,800 shares of the company’s stock valued at $756,000 after purchasing an additional 126 shares during the period. OneDigital Investment Advisors LLC grew its holdings in IDEXX Laboratories by 32.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 744 shares of the company’s stock valued at $312,000 after purchasing an additional 181 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in IDEXX Laboratories by 8.6% during the 1st quarter. IFM Investors Pty Ltd now owns 18,947 shares of the company’s stock valued at $7,957,000 after purchasing an additional 1,501 shares in the last quarter. Finally, Impax Asset Management Group plc increased its stake in IDEXX Laboratories by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 8,853 shares of the company’s stock worth $3,718,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday, August 11th. Leerink Partners upped their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. BTIG Research raised their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. UBS Group assumed coverage on IDEXX Laboratories in a report on Wednesday, October 1st. They set a “neutral” rating and a $720.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of IDEXX Laboratories in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $662.50.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $629.51 on Monday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock has a market cap of $50.36 billion, a P/E ratio of 52.42, a PEG ratio of 4.06 and a beta of 1.58. The company’s 50-day simple moving average is $637.89 and its 200 day simple moving average is $569.77.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%.The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm posted $2.44 EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 2,187 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $647.33, for a total transaction of $1,415,710.71. Following the sale, the director directly owned 262 shares of the company’s stock, valued at $169,600.46. This represents a 89.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,057 shares of company stock valued at $34,293,468. Insiders own 0.98% of the company’s stock.

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.