Fiduciary Trust Co Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fiduciary Trust Co reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,051 shares of the company’s stock after selling 834 shares during the period. Fiduciary Trust Co’s holdings in IDEXX Laboratories were worth $3,329,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IDXX. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter valued at $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories during the 4th quarter worth $31,000. Colonial Trust Co SC grew its position in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at $38,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $491.70 on Friday. The company’s fifty day moving average is $423.31 and its two-hundred day moving average is $429.36. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market capitalization of $39.85 billion, a P/E ratio of 46.08, a PEG ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $2.71 earnings per share. Analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analysts Set New Price Targets

IDXX has been the topic of a number of research reports. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley lifted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Piper Sandler upped their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $524.75.

IDEXX Laboratories Company Profile

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.