IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,787 shares of the company’s stock after selling 25 shares during the period. Weatherly Asset Management L. P.’s holdings in IDEXX Laboratories were worth $992,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories during the third quarter worth approximately $25,000. Valley National Advisers Inc. increased its holdings in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 22 shares during the period. Geo Capital Gestora de Recursos Ltd purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at $28,000. Covestor Ltd boosted its stake in IDEXX Laboratories by 71.8% during the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 28 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in IDEXX Laboratories by 108.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IDXX shares. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays increased their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research note on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Price Performance

Shares of IDXX traded up $1.06 during mid-day trading on Wednesday, reaching $494.86. 258,422 shares of the company’s stock were exchanged, compared to its average volume of 428,477. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $535.07 and a two-hundred day simple moving average of $510.61. The company has a market cap of $41.10 billion, a price-to-earnings ratio of 49.03, a PEG ratio of 3.69 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The firm had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last three months, insiders sold 43,524 shares of company stock worth $24,871,960. Insiders own 2.18% of the company’s stock.

About IDEXX Laboratories

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.