Western Wealth Management LLC Trims Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Western Wealth Management LLC cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,280 shares of the company’s stock after selling 53 shares during the quarter. Western Wealth Management LLC’s holdings in IDEXX Laboratories were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in IDXX. Panagora Asset Management Inc. lifted its position in IDEXX Laboratories by 50.3% during the first quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock worth $1,768,000 after buying an additional 1,081 shares during the period. Raymond James Trust N.A. lifted its position in IDEXX Laboratories by 26.8% during the first quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock worth $888,000 after buying an additional 343 shares during the period. Cetera Investment Advisers lifted its position in IDEXX Laboratories by 77.1% during the first quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock worth $2,010,000 after buying an additional 1,600 shares during the period. Moors & Cabot Inc. lifted its position in IDEXX Laboratories by 3.0% during the first quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock worth $961,000 after buying an additional 52 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in IDEXX Laboratories by 15.6% during the first quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock worth $543,000 after buying an additional 134 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

IDXX stock opened at $476.35 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The firm has a market cap of $39.56 billion, a P/E ratio of 47.30, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The stock has a 50-day simple moving average of $538.02 and a 200-day simple moving average of $508.81.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same quarter last year, the firm earned $2.05 EPS. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 in the last 90 days. 2.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IDXX has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. Barclays upped their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.