IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Nvest Financial LLC

Nvest Financial LLC decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,853 shares of the company’s stock after selling 388 shares during the period. Nvest Financial LLC’s holdings in IDEXX Laboratories were worth $766,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sovereign Financial Group Inc. boosted its stake in shares of IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after buying an additional 23 shares during the period. Mather Group LLC. lifted its stake in IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after acquiring an additional 23 shares during the last quarter. Angeles Wealth Management LLC grew its holdings in IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after acquiring an additional 25 shares in the last quarter. Cranbrook Wealth Management LLC increased its position in shares of IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its position in shares of IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after purchasing an additional 26 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IDXX shares. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Barclays decreased their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $523.86.

IDEXX Laboratories Trading Down 2.3 %

Shares of IDEXX Laboratories stock opened at $417.86 on Wednesday. The company’s fifty day moving average is $423.92 and its two-hundred day moving average is $455.05. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a market capitalization of $34.22 billion, a P/E ratio of 40.30, a PEG ratio of 3.63 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

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.