IDEXX Laboratories, Inc. $IDXX Stock: Inscription Capital LLC Reduces Holdings

Inscription Capital LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 74.7% in the third quarter, Holdings Channel.com reports. The firm owned 938 shares of the company’s stock after selling 2,774 shares during the quarter. Inscription Capital LLC’s holdings in IDEXX Laboratories were worth $490,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital Investment Services of America Inc. boosted its position in IDEXX Laboratories by 1.8% during the third quarter. Capital Investment Services of America Inc. now owns 39,668 shares of the company’s stock valued at $20,714,000 after purchasing an additional 691 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of IDEXX Laboratories by 34.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,983 shares of the company’s stock worth $1,111,000 after purchasing an additional 507 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of IDEXX Laboratories by 3.9% during the 3rd quarter. Ascent Group LLC now owns 804 shares of the company’s stock valued at $420,000 after buying an additional 30 shares during the last quarter. Rakuten Investment Management Inc. lifted its holdings in shares of IDEXX Laboratories by 10.2% during the 3rd quarter. Rakuten Investment Management Inc. now owns 20,981 shares of the company’s stock valued at $11,192,000 after buying an additional 1,945 shares during the last quarter. Finally, TrinityBridge Ltd acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $163,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on IDXX shares. Wall Street Zen cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. The Goldman Sachs Group started coverage on shares of IDEXX Laboratories in a research note on Friday, October 16th. They issued a “buy” rating and a $740.00 target price for the company. BTIG Research dropped coverage on shares of IDEXX Laboratories in a research note on Friday, October 30th. They set a “buy” rating on the stock. Finally, Barclays dropped their price target on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $719.55.

Insider Activity at IDEXX Laboratories

In other news, insider Jonathan Mazelsky sold 25,140 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $703.19, for a total value of $17,678,196.60. Following the completion of the sale, the insider directly owned 83,803 shares in the company, valued at approximately $58,929,431.57. The trade was a 23.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel M. Junius sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $704.07, for a total transaction of $844,884.00. Following the completion of the sale, the director owned 2,361 shares of the company’s stock, valued at $1,662,309.27. The trade was a 33.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 41,428 shares of company stock valued at $28,567,934. 0.79% of the stock is owned by company insiders.

IDEXX Laboratories Stock Performance

IDXX opened at $676.04 on Friday. The company has a market cap of $53.27 billion, a PE ratio of 45.59 and a beta of 1.55. The stock has a 50-day moving average of $546.75 and a 200-day moving average of $573.35. IDEXX Laboratories, Inc. has a 52-week low of $500.61 and a 52-week high of $769.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.87 and a current ratio of 1.19.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 2nd. The company reported $3.96 earnings per share 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 for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the business earned $3.22 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current fiscal year.

IDEXX Laboratories News Summary

Here are the key news stories impacting IDEXX Laboratories this week:

• Positive Sentiment: A Zacks article says IDEXX’s above-average financial growth could help it outperform, bolstering the growth-investment case. Zacks growth-investor article
• Positive Sentiment: Morgan Stanley raised its price target on IDXX, a potentially supportive analyst signal; the available report does not state the revised target. Morgan Stanley price-target report
• Positive Sentiment: Recent quarterly results beat expectations: IDEXX reported EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion versus $1.19 billion expected. Revenue grew 9.9% year over year. IDEXX quarterly results analysis
• Negative Sentiment: Four directors and executives sold a combined 39,225 shares on November 4, worth about $27.4 million, and each reduced their reported holdings. The sales may weigh on sentiment, although insider transactions do not by themselves indicate a negative company outlook. Insider-trading report
• Negative Sentiment: A Seeking Alpha article downgraded IDXX, arguing the shares are expensive despite the company’s business quality. Valuation concerns could temper the positive effect of earnings growth. IDEXX valuation downgrade

About IDEXX Laboratories

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.