Hager Investment Management Services LLC lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 88.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,860 shares of the company’s stock after buying an additional 871 shares during the quarter. Hager Investment Management Services LLC’s holdings in IDEXX Laboratories were worth $971,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of IDXX. J.Safra Asset Management Corp bought a new position in IDEXX Laboratories during the second quarter valued at about $25,000. Elevation Wealth Partners LLC raised its position in IDEXX Laboratories by 188.2% in the second quarter. Elevation Wealth Partners LLC now owns 49 shares of the company’s stock worth $26,000 after acquiring an additional 32 shares in the last quarter. Pension & Wealth Management Advisors Inc. bought a new stake in IDEXX Laboratories in the third quarter worth about $29,000. Arlington Trust Co LLC lifted its holdings in IDEXX Laboratories by 46.3% in the 2nd quarter. Arlington Trust Co LLC now owns 60 shares of the company’s stock valued at $32,000 after acquiring an additional 19 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in IDEXX Laboratories by 45.5% in the 3rd quarter. Bell Investment Advisors Inc now owns 64 shares of the company’s stock valued at $33,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.
Insider Activity at IDEXX Laboratories
In other news, Director Daniel M. Junius sold 1,200 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $704.07, for a total value of $844,884.00. Following the transaction, the director directly owned 2,361 shares of the company’s stock, valued at $1,662,309.27. This trade represents a 33.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Lane sold 3,979 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $688.64, for a total transaction of $2,740,098.56. Following the sale, the executive vice president owned 4,076 shares in the company, valued at $2,806,896.64. This represents a 49.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 41,428 shares of company stock valued at $28,567,934. Corporate insiders own 0.79% of the company’s stock.
IDEXX Laboratories Stock Performance
Shares of NASDAQ IDXX opened at $676.04 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. IDEXX Laboratories, Inc. has a 12 month low of $500.61 and a 12 month high of $769.98. The company has a market cap of $53.26 billion, a price-to-earnings ratio of 45.59 and a beta of 1.55. The business has a fifty day simple moving average of $546.75 and a 200-day simple moving average of $573.35.
IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.25. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. IDEXX Laboratories’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $3.22 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 15.05 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on IDXX. JPMorgan Chase & Co. reduced their price objective on shares of IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Leerink Partners dropped their target price on shares of IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Jefferies Financial Group dropped their target price on shares of IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Weiss Ratings raised shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $719.55.
View Our Latest Stock Analysis on IDXX
IDEXX Laboratories News Summary
Here are the key news stories impacting IDEXX Laboratories this week:
- Positive Sentiment: A Zacks article says IDEXX’s above-average financial growth could help it outperform, bolstering the growth-investment case. Zacks growth-investor article
- Positive Sentiment: Morgan Stanley raised its price target on IDXX, a potentially supportive analyst signal; the available report does not state the revised target. Morgan Stanley price-target report
- Positive Sentiment: Recent quarterly results beat expectations: IDEXX reported EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion versus $1.19 billion expected. Revenue grew 9.9% year over year. IDEXX quarterly results analysis
- Negative Sentiment: Four directors and executives sold a combined 39,225 shares on November 4, worth about $27.4 million, and each reduced their reported holdings. The sales may weigh on sentiment, although insider transactions do not by themselves indicate a negative company outlook. Insider-trading report
- Negative Sentiment: A Seeking Alpha article downgraded IDXX, arguing the shares are expensive despite the company’s business quality. Valuation concerns could temper the positive effect of earnings growth. IDEXX valuation downgrade
IDEXX Laboratories Company Profile
IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices.
The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.
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