IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Penobscot Wealth Management

Penobscot Wealth Management lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,219 shares of the company’s stock after selling 100 shares during the quarter. IDEXX Laboratories makes up about 1.6% of Penobscot Wealth Management’s portfolio, making the stock its 17th biggest holding. Penobscot Wealth Management’s holdings in IDEXX Laboratories were worth $2,342,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. increased its position in shares of IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of IDEXX Laboratories during the third quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of IDEXX Laboratories by 226.3% during the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 43 shares during the period. Geo Capital Gestora de Recursos Ltd acquired a new stake in IDEXX Laboratories in the third quarter valued at approximately $28,000. Finally, Covestor Ltd lifted its stake in IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 28 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. In the last three months, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is owned by insiders.

IDEXX Laboratories Trading Down 1.0 %

Shares of IDEXX Laboratories stock traded down $5.02 on Thursday, reaching $489.24. 358,456 shares of the company’s stock were exchanged, compared to its average volume of 430,629. The company has a market capitalization of $40.63 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 3.80 and a beta of 1.26. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The firm’s 50-day moving average is $532.15 and its two-hundred day moving average is $510.35. 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 (NASDAQ:IDXX) last released its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. IDEXX Laboratories’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Analyst Ratings Changes

IDXX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Barclays upped their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories 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.