IDEXX Laboratories (NASDAQ:IDXX) Director Daniel Junius Sells 1,200 Shares of Stock

IDEXX Laboratories, Inc. (NASDAQ:IDXX) Director Daniel Junius sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $704.07, for a total transaction of $844,884.00. Following the sale, the director owned 2,361 shares of the company’s stock, valued at $1,662,309.27. This represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IDEXX Laboratories Trading Down 4.0%

Shares of IDXX opened at $670.71 on Friday. The stock has a market capitalization of $52.84 billion, a P/E ratio of 45.23 and a beta of 1.55. IDEXX Laboratories, Inc. has a twelve month low of $500.61 and a twelve month high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $544.13 and a two-hundred day simple moving average of $573.40.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, November 2nd. The company reported $3.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $3.22 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 15.05 EPS for the current year.

Key Stories Impacting IDEXX Laboratories

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..

Institutional Trading of IDEXX Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Three Bridge Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories in the 3rd quarter worth approximately $80,000. UNIVEST FINANCIAL Corp lifted its stake in shares of IDEXX Laboratories by 3.5% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 8,358 shares of the company’s stock valued at $4,364,000 after purchasing an additional 282 shares during the period. Jacobi Capital Management LLC purchased a new position in shares of IDEXX Laboratories in the 3rd quarter valued at approximately $191,000. Jefferies Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 659.7% in the 3rd quarter. Jefferies Financial Group Inc. now owns 11,380 shares of the company’s stock valued at $5,943,000 after purchasing an additional 9,882 shares during the period. Finally, First Command Advisory Services Inc. boosted its position in shares of IDEXX Laboratories by 36.8% during the third quarter. First Command Advisory Services Inc. now owns 364 shares of the company’s stock valued at $190,000 after purchasing an additional 98 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup boosted 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. JPMorgan Chase & Co. dropped their price target on IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. The Goldman Sachs Group started coverage on IDEXX Laboratories in a research note on Friday, October 16th. They issued a “buy” rating and a $740.00 price target for the company. UBS Group lifted their price target on shares of IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $719.55.

IDEXX Laboratories Company Profile

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.