IDEXX Laboratories (NASDAQ:IDXX) Stock: Insider Daniel Junius Sells 1,200 Shares

IDEXX Laboratories, Inc. (NASDAQ:IDXX) Director Daniel Junius sold 1,200 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $704.07, for a total value of $844,884.00. Following the sale, the director directly owned 2,361 shares of the company’s stock, valued at $1,662,309.27. This represents a 33.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

IDEXX Laboratories Stock Performance

IDXX traded down $27.84 on Thursday, reaching $670.71. The company had a trading volume of 873,031 shares, compared to its average volume of 583,252. IDEXX Laboratories, Inc. has a fifty-two week low of $500.61 and a fifty-two week high of $769.98. The stock has a market cap of $52.85 billion, a P/E ratio of 45.23 and a beta of 1.55. The company’s fifty day moving average is $541.78 and its 200 day moving average is $573.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 1.19.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, November 2nd. The company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.25. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $3.22 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, analysts predict that IDEXX Laboratories, Inc. will post 15.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IDXX. Citigroup boosted their price target on IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. UBS Group upped their price objective on IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, KeyCorp initiated coverage on shares of IDEXX Laboratories in a research report on Monday, October 12th. They set a “sector weight” rating on the stock. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $719.55.

Institutional Trading of IDEXX Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of IDEXX Laboratories by 4.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock worth $479,844,000 after acquiring an additional 39,700 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of IDEXX Laboratories by 52.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock worth $471,335,000 after acquiring an additional 288,471 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of IDEXX Laboratories by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock worth $322,145,000 after acquiring an additional 23,582 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in shares of IDEXX Laboratories by 97.3% in the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after acquiring an additional 197,808 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

About IDEXX Laboratories

IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.