IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 635 shares of the company’s stock after selling 95 shares during the period. Meritage Portfolio Management’s holdings in IDEXX Laboratories were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. boosted its holdings in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the period. OFI Invest Asset Management acquired a new position in IDEXX Laboratories in the third quarter worth $25,000. Venturi Wealth Management LLC boosted 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 valued at $34,000 after acquiring an additional 43 shares during the period. Geo Capital Gestora de Recursos Ltd acquired a new position in shares of IDEXX Laboratories during the third quarter valued at $28,000. Finally, Covestor Ltd boosted its holdings in shares of IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock traded up $9.26 during midday trading on Friday, hitting $498.50. The company’s stock had a trading volume of 278,298 shares, compared to its average volume of 428,602. 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 stock’s 50-day moving average price is $532.15 and its 200-day moving average price is $510.35. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a market capitalization of $41.40 billion, a PE ratio of 48.58, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26.

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

Insiders Place Their Bets

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

Analysts Set New Price Targets

IDXX has been the subject of several analyst reports. Barclays boosted 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. boosted 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. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a report on Tuesday, January 30th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Company 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.