Insider Selling: IDEXX Laboratories (NASDAQ:IDXX) EVP Sells 8,906 Shares of Stock

IDEXX Laboratories, Inc. (NASDAQ:IDXX) EVP Sharon Underberg sold 8,906 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $688.59, for a total transaction of $6,132,582.54. Following the completion of the sale, the executive vice president owned 7,169 shares of the company’s stock, valued at $4,936,501.71. The trade was a 55.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded down $27.84 during trading hours on Thursday, reaching $670.71. 873,031 shares of the company were exchanged, compared to its average volume of 583,252. IDEXX Laboratories, Inc. has a fifty-two week low of $500.61 and a fifty-two week high of $769.98. The stock’s fifty day moving average is $541.78 and its two-hundred day moving average is $573.62. The company has a market cap of $52.85 billion, a price-to-earnings ratio of 45.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.87.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.71 by $0.25. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. IDEXX Laboratories had a net margin of 25.36% and a return on equity of 71.04%. IDEXX Laboratories’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.22 earnings per share. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 15.06 earnings per share for the current fiscal year.

Institutional Trading of IDEXX Laboratories

A number of institutional investors have recently bought and sold shares of IDXX. J.Safra Asset Management Corp bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $25,000. Elevation Wealth Partners LLC grew its stake in shares of IDEXX Laboratories by 188.2% during the second quarter. Elevation Wealth Partners LLC now owns 49 shares of the company’s stock worth $26,000 after purchasing an additional 32 shares during the period. Pension & Wealth Management Advisors Inc. bought a new stake in IDEXX Laboratories in the third quarter valued at about $29,000. Arlington Trust Co LLC increased its holdings in IDEXX Laboratories by 46.3% in the second quarter. Arlington Trust Co LLC now owns 60 shares of the company’s stock valued at $32,000 after purchasing an additional 19 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its stake in IDEXX Laboratories by 45.5% in the third quarter. Bell Investment Advisors Inc now owns 64 shares of the company’s stock valued at $33,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on IDXX. BTIG Research dropped coverage on IDEXX Laboratories in a research note on Friday, October 30th. They issued a “buy” rating for the company. Jefferies Financial Group cut their price target on IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Leerink Partners decreased their price target on IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Barclays decreased their price target on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, UBS Group lifted their price objective on IDEXX Laboratories from $627.00 to $700.00 and gave the stock a “neutral” rating in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $719.55.

About IDEXX Laboratories

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.