First Hawaiian Bank Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by on Mar 22nd, 2023

First Hawaiian Bank decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 5.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,304 shares of the company’s stock after selling 174 shares during the period. First Hawaiian Bank’s holdings in IDEXX Laboratories were worth $1,348,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in IDEXX Laboratories by 6.1% in the third quarter. Van ECK Associates Corp now owns 12,723 shares of the company’s stock valued at $4,145,000 after purchasing an additional 737 shares during the last quarter. Amalgamated Bank grew its holdings in IDEXX Laboratories by 1.1% in the third quarter. Amalgamated Bank now owns 22,426 shares of the company’s stock valued at $7,306,000 after purchasing an additional 251 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in IDEXX Laboratories by 0.6% in the third quarter. Mutual of America Capital Management LLC now owns 12,379 shares of the company’s stock valued at $4,033,000 after purchasing an additional 73 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in IDEXX Laboratories by 17.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 63,139 shares of the company’s stock valued at $20,571,000 after purchasing an additional 9,283 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in IDEXX Laboratories by 40.9% in the third quarter. First Trust Advisors LP now owns 181,878 shares of the company’s stock valued at $59,256,000 after purchasing an additional 52,777 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IDXX. The Goldman Sachs Group increased their price objective on IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. StockNews.com began coverage on IDEXX Laboratories in a research note on Thursday, March 16th. They set a “buy” rating on the stock. JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $525.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, February 7th. Atlantic Securities raised their price target on IDEXX Laboratories from $470.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 7th. Finally, TheStreet raised IDEXX Laboratories from a “c+” rating to a “b-” rating in a research note on Friday, November 25th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $514.75.

IDEXX Laboratories Stock Up 2.5 %

Shares of NASDAQ:IDXX opened at $495.40 on Wednesday. The stock’s 50-day moving average price is $482.71 and its two-hundred day moving average price is $417.69. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 61.69, a PEG ratio of 2.74 and a beta of 1.18. 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.

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

Insider Transactions at IDEXX Laboratories

In other news, SVP Kathy V. Turner sold 2,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,723,874.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Kathy V. Turner sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total transaction of $1,009,180.00. Following the sale, the senior vice president now directly owns 7,380 shares in the company, valued at approximately $3,723,874.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kathy V. Turner sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $505.04, for a total value of $505,040.00. Following the sale, the senior vice president now owns 6,941 shares in the company, valued at $3,505,482.64. The disclosure for this sale can be found here. Company insiders own 2.06% of the company’s stock.

About IDEXX Laboratories

(Get Rating)

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.

Further Reading

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

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