Washington Trust Advisors Inc. Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Washington Trust Advisors Inc. trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84 shares of the company’s stock after selling 20 shares during the quarter. Washington Trust Advisors Inc.’s holdings in IDEXX Laboratories were worth $47,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new stake in IDEXX Laboratories in the 4th quarter valued at approximately $26,000. Geo Capital Gestora de Recursos Ltd acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at approximately $28,000. Finally, Covestor Ltd increased its holdings in IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded up $1.09 on Thursday, reaching $540.66. The company’s stock had a trading volume of 88,560 shares, compared to its average volume of 424,965. The stock’s 50-day moving average is $547.76 and its two-hundred day moving average is $501.71. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The stock has a market capitalization of $44.92 billion, a P/E ratio of 53.64, a PEG ratio of 2.91 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,524 shares of company stock worth $24,871,960. Insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IDXX. Barclays boosted their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. BNP Paribas started coverage on shares of IDEXX Laboratories in a research note on Thursday, December 7th. They set an “outperform” rating and a $602.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

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.