IDEXX Laboratories (NASDAQ:IDXX) Insider Jonathan Jay Mazelsky Sells 25,140 Shares of Company Stock

IDEXX Laboratories, Inc. (NASDAQ:IDXX) insider Jonathan Mazelsky sold 25,140 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $703.19, for a total transaction of $17,678,196.60. Following the transaction, the insider owned 83,803 shares in the company, valued at $58,929,431.57. This represents a 23.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

IDEXX Laboratories Stock Down 4.0%

Shares of IDXX stock traded down $27.84 on Thursday, reaching $670.71. 873,031 shares of the company were exchanged, compared to its average volume of 583,252. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.87. The company has a 50-day moving average of $541.78 and a 200-day moving average of $573.62. The company has a market cap of $52.85 billion, a price-to-earnings ratio of 45.23 and a beta of 1.55. IDEXX Laboratories, Inc. has a one year low of $500.61 and a one year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, beating 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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company posted $3.22 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that IDEXX Laboratories, Inc. will post 15.06 earnings per share for the current year.

Hedge Funds Weigh In On IDEXX Laboratories

Several large investors have recently bought and sold shares of the stock. Aurora Investment Managers LLC. purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at about $2,442,000. National Pension Service boosted its holdings in IDEXX Laboratories by 5.6% during the second quarter. National Pension Service now owns 129,305 shares of the company’s stock worth $68,071,000 after purchasing an additional 6,885 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in IDEXX Laboratories by 60.9% during the first quarter. NewEdge Advisors LLC now owns 15,221 shares of the company’s stock worth $8,552,000 after purchasing an additional 5,761 shares during the last quarter. Arizona State Retirement System grew its position in IDEXX Laboratories by 4.9% in 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 in the last quarter. Finally, Howard Capital Management LLC bought a new stake in IDEXX Laboratories in the 3rd quarter worth about $1,249,000. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. Wall Street Zen downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Leerink Partners cut their target price on IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a research report on Tuesday. KeyCorp began coverage on shares of IDEXX Laboratories in a report on Monday, October 12th. They set a “sector weight” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of IDEXX Laboratories in a research note on Friday, October 16th. They issued a “buy” rating and a $740.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $719.55.

IDEXX Laboratories Company Profile

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.