Fiduciary Trust Co Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fiduciary Trust Co trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,051 shares of the company’s stock after selling 834 shares during the period. Fiduciary Trust Co’s holdings in IDEXX Laboratories were worth $3,329,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in IDEXX Laboratories by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 6,409 shares of the company’s stock worth $2,658,000 after acquiring an additional 334 shares during the period. First Hawaiian Bank boosted its holdings in shares of IDEXX Laboratories by 32.5% during the fourth quarter. First Hawaiian Bank now owns 665 shares of the company’s stock worth $275,000 after purchasing an additional 163 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of IDEXX Laboratories by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,751 shares of the company’s stock valued at $12,300,000 after purchasing an additional 117 shares during the period. ST Germain D J Co. Inc. increased its stake in IDEXX Laboratories by 517.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 179 shares of the company’s stock valued at $74,000 after purchasing an additional 150 shares during the last quarter. Finally, Czech National Bank lifted its position in IDEXX Laboratories by 5.9% during the fourth quarter. Czech National Bank now owns 17,755 shares of the company’s stock worth $7,341,000 after buying an additional 989 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on IDXX. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $524.75.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $491.70 on Friday. The firm has a fifty day moving average of $423.31 and a 200-day moving average of $429.36. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $548.88. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $39.85 billion, a P/E ratio of 46.08, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 EPS. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.98% of the company’s stock.

IDEXX Laboratories Company 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.