IDEXX Laboratories, Inc. $IDXX Stock Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,217 shares of the company’s stock after selling 1,118 shares during the period. Boston Trust Walden Corp’s holdings in IDEXX Laboratories were worth $4,813,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Aurora Investment Managers LLC. purchased a new stake in shares of IDEXX Laboratories during the second quarter worth approximately $2,442,000. National Pension Service raised its stake in IDEXX Laboratories by 5.6% in the 2nd quarter. National Pension Service now owns 129,305 shares of the company’s stock valued at $68,071,000 after purchasing an additional 6,885 shares during the last quarter. Howard Capital Management LLC purchased a new position in IDEXX Laboratories in the 3rd quarter valued at $1,249,000. NewEdge Advisors LLC lifted its holdings in IDEXX Laboratories by 60.9% in the 1st quarter. NewEdge Advisors LLC now owns 15,221 shares of the company’s stock valued at $8,552,000 after purchasing an additional 5,761 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in IDEXX Laboratories by 4.9% during the 2nd quarter. Arizona State Retirement System now owns 22,772 shares of the company’s stock worth $11,988,000 after purchasing an additional 1,074 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 0.8%

Shares of NASDAQ:IDXX opened at $676.04 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $500.61 and a 52-week high of $769.98. The stock has a market cap of $53.26 billion, a P/E ratio of 45.59 and a beta of 1.55. The business has a fifty day moving average of $546.75 and a two-hundred day moving average of $573.35. The company has a quick ratio of 0.87, a current ratio of 1.19 and a debt-to-equity ratio of 0.16.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.71 by $0.25. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $3.22 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts expect that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Barclays decreased their price target on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group upped their price objective on shares of IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, BTIG Research dropped coverage on shares of IDEXX Laboratories in a report on Friday, October 30th. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $719.55.

Key IDEXX Laboratories News

Here are the key news stories impacting IDEXX Laboratories this week:

• Positive Sentiment: A Zacks article says IDEXX’s above-average financial growth could help it outperform, bolstering the growth-investment case. Zacks growth-investor article
• Positive Sentiment: Morgan Stanley raised its price target on IDXX, a potentially supportive analyst signal; the available report does not state the revised target. Morgan Stanley price-target report
• Positive Sentiment: Recent quarterly results beat expectations: IDEXX reported EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion versus $1.19 billion expected. Revenue grew 9.9% year over year. IDEXX quarterly results analysis
• Negative Sentiment: Four directors and executives sold a combined 39,225 shares on November 4, worth about $27.4 million, and each reduced their reported holdings. The sales may weigh on sentiment, although insider transactions do not by themselves indicate a negative company outlook. Insider-trading report
• Negative Sentiment: A Seeking Alpha article downgraded IDXX, arguing the shares are expensive despite the company’s business quality. Valuation concerns could temper the positive effect of earnings growth. IDEXX valuation downgrade

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $532.08, for a total value of $1,172,172.24. Following the transaction, the director directly owned 9,568 shares in the company, valued at $5,090,941.44. The trade was a 18.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sharon Underberg sold 8,906 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $688.59, for a total transaction of $6,132,582.54. Following the completion of the sale, the executive vice president directly owned 7,169 shares of the company’s stock, valued at approximately $4,936,501.71. This trade represents a 55.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,428 shares of company stock valued at $28,567,934 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

IDEXX Laboratories Profile

IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices.

The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.