IDEXX Laboratories, Inc. $IDXX Stock Sold by Welch & Forbes LLC

Welch & Forbes LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,027 shares of the company’s stock after selling 1,639 shares during the quarter. IDEXX Laboratories accounts for about 1.0% of Welch & Forbes LLC’s portfolio, making the stock its 28th largest position. Welch & Forbes LLC’s holdings in IDEXX Laboratories were worth $86,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Gryphon Financial Partners LLC acquired a new position in shares of IDEXX Laboratories during the third quarter valued at about $339,000. AlphaCore Capital LLC boosted its stake in IDEXX Laboratories by 1,029.5% in the 3rd quarter. AlphaCore Capital LLC now owns 2,338 shares of the company’s stock worth $1,221,000 after purchasing an additional 2,131 shares in the last quarter. Fulcrum Asset Management LLP boosted its stake in IDEXX Laboratories by 9.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 1,159 shares of the company’s stock worth $618,000 after purchasing an additional 104 shares in the last quarter. Bryn Mawr Trust Advisors LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter worth approximately $5,216,000. Finally, Hager Investment Management Services LLC grew its position in IDEXX Laboratories by 88.1% during the 3rd quarter. Hager Investment Management Services LLC now owns 1,860 shares of the company’s stock worth $971,000 after purchasing an additional 871 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Lane sold 3,979 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $688.64, for a total value of $2,740,098.56. Following the completion of the transaction, the executive vice president directly owned 4,076 shares in the company, valued at approximately $2,806,896.64. This trade represents a 49.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel Junius sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $704.07, for a total transaction of $844,884.00. Following the completion of the sale, the director directly owned 2,361 shares in the company, valued at approximately $1,662,309.27. This trade represents a 33.70% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 41,428 shares of company stock valued at $28,567,934. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on IDXX. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. KeyCorp assumed coverage on IDEXX Laboratories in a research report on Monday, October 12th. They set a “sector weight” rating for the company. The Goldman Sachs Group assumed coverage on IDEXX Laboratories in a report on Friday, October 16th. They issued a “buy” rating and a $740.00 price objective on the stock. Finally, Citigroup raised their price objective on IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $717.27.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $706.65 on Tuesday. The company has a market capitalization of $55.68 billion, a P/E ratio of 47.65 and a beta of 1.55. The business’s 50 day moving average is $549.78 and its two-hundred day moving average is $573.40. The company has a current ratio of 1.19, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16. IDEXX Laboratories, Inc. has a 12-month low of $500.61 and a 12-month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.22 earnings per share. Analysts expect that IDEXX Laboratories, Inc. will post 15.05 EPS for the current fiscal year.

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.