IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,037 shares of the company’s stock after selling 51 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in IDEXX Laboratories were worth $429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter valued at $31,000. Cranbrook Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after acquiring an additional 25 shares during the last quarter. Sax Wealth Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 76.3% during the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after purchasing an additional 617 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $315,000. Finally, Avanza Fonder AB purchased a new position in IDEXX Laboratories in the 4th quarter worth about $2,688,000. 87.84% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’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 approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

IDXX opened at $419.26 on Monday. The stock has a fifty day moving average price of $423.60 and a 200 day moving average price of $458.00. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The stock has a market cap of $34.33 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 3.52 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. The business 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%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. decreased their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Barclays dropped their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Two equities research 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 company’s stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $523.86.

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.