Sumitomo Life Insurance Co. Sells 158 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sumitomo Life Insurance Co. trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 4,719 shares of the company’s stock after selling 158 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in IDEXX Laboratories were worth $2,619,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Valley National Advisers Inc. lifted its stake in shares of IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of IDEXX Laboratories during the third quarter worth approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of IDEXX Laboratories during the third quarter worth approximately $25,000. Venturi Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 226.3% during the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after buying an additional 43 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $26,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,524 shares of company stock worth $24,871,960. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 1.1 %

IDXX stock traded down $5.31 during midday trading on Friday, reaching $497.79. The company’s stock had a trading volume of 513,717 shares, compared to its average volume of 371,766. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The stock has a market cap of $41.34 billion, a PE ratio of 49.43, a price-to-earnings-growth ratio of 3.83 and a beta of 1.26. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The business’s 50-day simple moving average is $546.90 and its 200-day simple moving average is $507.67.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a report on Tuesday, January 30th. Barclays raised their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $591.50.

About IDEXX Laboratories

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.