Bank of New York Mellon Corp Sells 19,926 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by Defense World Staff on Mar 17th, 2023

Bank of New York Mellon Corp trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 2.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 696,325 shares of the company’s stock after selling 19,926 shares during the quarter. Bank of New York Mellon Corp owned about 0.84% of IDEXX Laboratories worth $226,862,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $34,000. Carolinas Wealth Consulting LLC bought a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $39,000. Riverview Trust Co grew its stake in shares of IDEXX Laboratories by 202.8% during the 3rd quarter. Riverview Trust Co now owns 109 shares of the company’s stock valued at $36,000 after purchasing an additional 73 shares during the period. Atlas Capital Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $44,000. Finally, Advanced Research Investment Solutions LLC bought a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $52,000. 87.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IDXX. TheStreet upgraded IDEXX Laboratories from a “c+” rating to a “b-” rating in a research note on Friday, November 25th. The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $525.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Barclays boosted their price objective on IDEXX Laboratories from $582.00 to $590.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Finally, Atlantic Securities boosted their price objective on IDEXX Laboratories from $470.00 to $600.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $514.75.

Insider Buying and Selling

In related news, SVP Kathy V. Turner sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total value of $1,009,180.00. Following the transaction, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at approximately $3,723,874.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kathy V. Turner sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $505.04, for a total transaction of $505,040.00. Following the sale, the senior vice president now directly owns 6,941 shares of the company’s stock, valued at approximately $3,505,482.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kathy V. Turner sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total value of $1,009,180.00. Following the sale, the senior vice president now directly owns 7,380 shares in the company, valued at $3,723,874.20. The disclosure for this sale can be found here. 2.06% of the stock is owned by insiders.

IDEXX Laboratories Stock Up 2.0 %

NASDAQ IDXX opened at $474.11 on Friday. The stock’s 50 day moving average is $481.01 and its 200 day moving average is $413.89. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 1.14. IDEXX Laboratories, Inc. has a 12 month low of $317.06 and a 12 month high of $560.92. The stock has a market cap of $39.30 billion, a PE ratio of 59.04, a P/E/G ratio of 2.67 and a beta of 1.18.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.13. IDEXX Laboratories had a return on equity of 124.51% and a net margin of 20.17%. The company had revenue of $828.60 million for the quarter, compared to analysts’ expectations of $820.91 million. During the same period in the previous year, the firm earned $1.89 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that IDEXX Laboratories, Inc. will post 9.58 EPS for the current fiscal year.

About IDEXX Laboratories

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy, and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water Quality Products (Water), Livestock, Poultry, and Dairy (LPD), and Other.

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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