IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Commonwealth Equity Services LLC

Posted by Defense World Staff on May 8th, 2023

Commonwealth Equity Services LLC lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,543 shares of the company’s stock after selling 471 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IDEXX Laboratories were worth $9,604,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDXX. Pine Haven Investment Counsel Inc boosted its position in shares of IDEXX Laboratories by 3.1% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 758 shares of the company’s stock worth $309,000 after buying an additional 23 shares during the period. Carolinas Wealth Consulting LLC lifted its position in shares of IDEXX Laboratories by 28.7% in the third quarter. Carolinas Wealth Consulting LLC now owns 130 shares of the company’s stock worth $42,000 after purchasing an additional 29 shares in the last quarter. Kentucky Retirement Systems grew its position in IDEXX Laboratories by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 6,546 shares of the company’s stock valued at $2,671,000 after purchasing an additional 29 shares in the last quarter. Berkshire Bank increased its stake in IDEXX Laboratories by 2.0% in the 3rd quarter. Berkshire Bank now owns 1,609 shares of the company’s stock valued at $524,000 after buying an additional 31 shares during the last quarter. Finally, WMS Partners LLC lifted its position in IDEXX Laboratories by 2.8% during the 3rd quarter. WMS Partners LLC now owns 1,175 shares of the company’s stock worth $383,000 after buying an additional 32 shares in the last quarter. Institutional investors own 87.90% of the company’s stock.

IDEXX Laboratories Stock Up 4.0 %

IDXX stock opened at $488.49 on Monday. The firm has a 50-day moving average price of $480.47 and a 200-day moving average price of $450.89. IDEXX Laboratories, Inc. has a 12 month low of $317.06 and a 12 month high of $515.79. The company has a current ratio of 1.08, a quick ratio of 0.59 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $40.54 billion, a P/E ratio of 58.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.19.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.92 by $0.13. The business had revenue of $828.60 million during the quarter, compared to the consensus estimate of $820.91 million. IDEXX Laboratories had a net margin of 20.38% and a return on equity of 117.37%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 9.63 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 2,187 shares of the stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $469.02, for a total transaction of $1,025,746.74. Following the completion of the sale, the director now directly owns 872 shares in the company, valued at $408,985.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Sophie V. Vandebroek sold 2,187 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $469.02, for a total transaction of $1,025,746.74. Following the transaction, the director now owns 872 shares in the company, valued at approximately $408,985.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kathy V. Turner sold 1,000 shares of the business’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $505.04, for a total transaction of $505,040.00. Following the transaction, the senior vice president now owns 6,941 shares in the company, valued at approximately $3,505,482.64. The disclosure for this sale can be found here. Insiders sold a total of 5,187 shares of company stock worth $2,539,967 over the last three months. 2.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IDXX. Barclays raised their target price on shares of IDEXX Laboratories from $582.00 to $590.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $525.00 to $550.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. Atlantic Securities raised their price objective on shares of IDEXX Laboratories from $470.00 to $600.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Finally, Morgan Stanley upped their target price on IDEXX Laboratories from $543.00 to $590.00 and gave the company an “overweight” rating in a research report on Thursday, March 23rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $527.86.

IDEXX Laboratories Company Profile

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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.