Cornerstone Advisors LLC Sells 6,959 Shares of IDEXX Laboratories, Inc. $IDXX

Cornerstone Advisors LLC trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 24.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 21,336 shares of the company’s stock after selling 6,959 shares during the period. Cornerstone Advisors LLC’s holdings in IDEXX Laboratories were worth $11,141,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Aberdeen Group plc grew its holdings in shares of IDEXX Laboratories by 1,131.8% during the 3rd quarter. Aberdeen Group plc now owns 92,508 shares of the company’s stock worth $48,307,000 after purchasing an additional 84,998 shares during the period. William Blair Investment Management LLC increased its position in shares of IDEXX Laboratories by 2.7% during the 3rd quarter. William Blair Investment Management LLC now owns 306,107 shares of the company’s stock worth $159,846,000 after purchasing an additional 7,953 shares during the last quarter. Allworth Financial LP raised its holdings in IDEXX Laboratories by 51.8% in the 3rd quarter. Allworth Financial LP now owns 3,843 shares of the company’s stock valued at $2,023,000 after buying an additional 1,312 shares during the period. Fisher Asset Management LLC purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at about $272,000. Finally, R Squared Ltd purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at about $562,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of IDEXX Laboratories in a report on Friday, October 16th. They issued a “buy” rating and a $740.00 price objective on the stock. Citigroup increased their price objective on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. BTIG Research dropped coverage on IDEXX Laboratories in a research report on Friday, October 30th. They issued a “buy” rating on the stock. Finally, KeyCorp assumed coverage on IDEXX Laboratories in a research note on Monday, October 12th. They set a “sector weight” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $717.27.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director Lawrence D. Kingsley sold 2,203 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the completion of the transaction, the director directly owned 9,568 shares of the company’s stock, valued at $5,090,941.44. This represents a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Daniel M. Junius sold 1,200 shares of the firm’s stock in a transaction dated 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 owned 2,361 shares of the company’s stock, valued at approximately $1,662,309.27. The trade was a 33.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 41,428 shares of company stock valued at $28,567,934. Corporate insiders own 0.79% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $704.23 on Friday. The company has a market cap of $55.49 billion, a P/E ratio of 47.16 and a beta of 1.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.88. The stock has a 50-day moving average of $562.41 and a two-hundred day moving average of $573.52. IDEXX Laboratories, Inc. has a 1-year low of $500.61 and a 1-year high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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 business 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 company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.22 earnings per share. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 15.05 EPS for the current year.

IDEXX Laboratories Company 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.