First Bancorp Inc ME Trims Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

First Bancorp Inc ME decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,315 shares of the company’s stock after selling 26 shares during the period. First Bancorp Inc ME’s holdings in IDEXX Laboratories were worth $544,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Sovereign Financial Group Inc. boosted its position in IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after acquiring an additional 23 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of IDEXX Laboratories by 3.9% during the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing an additional 23 shares during the last quarter. Angeles Wealth Management LLC grew its position in shares of IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after purchasing an additional 25 shares during the period. Cranbrook Wealth Management LLC increased its stake in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after buying an additional 27 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Barclays decreased their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.86.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $435.33 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The company has a market capitalization of $35.65 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 3.63 and a beta of 1.36. The business has a 50-day moving average of $423.74 and a 200-day moving average of $456.35.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.53 EPS. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.11% 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.