Franklin Street Advisors Inc. NC Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Franklin Street Advisors Inc. NC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,066 shares of the company’s stock after selling 1,288 shares during the quarter. IDEXX Laboratories accounts for approximately 2.0% of Franklin Street Advisors Inc. NC’s holdings, making the stock its 19th biggest holding. Franklin Street Advisors Inc. NC owned approximately 0.05% of IDEXX Laboratories worth $23,904,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IDXX. E Fund Management Hong Kong Co. Ltd. purchased a new position in IDEXX Laboratories during the 3rd quarter worth $26,000. OFI Invest Asset Management purchased a new stake in IDEXX Laboratories during the third quarter worth $25,000. Altshuler Shaham Ltd bought a new stake in IDEXX Laboratories during the 4th quarter valued at $26,000. Geo Capital Gestora de Recursos Ltd bought a new position in shares of IDEXX Laboratories in the 3rd quarter worth $28,000. Finally, Covestor Ltd raised its position in shares of IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

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

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $539.93 on Friday. The stock has a market capitalization of $44.86 billion, a P/E ratio of 53.62, a PEG ratio of 2.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a 50 day moving average price of $548.25 and a 200 day moving average price of $501.97.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. The firm had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. IDEXX Laboratories’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on IDXX shares. The Goldman Sachs Group raised their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Barclays raised their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Friday, January 5th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

IDEXX Laboratories 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.