9,989 Shares of IDEXX Laboratories, Inc. $IDXX Bought by Bryn Mawr Trust Advisors LLC

Key Points

• Bryn Mawr Trust Advisors opened a position in IDEXX Laboratories, buying 9,989 shares worth approximately $5.2 million in the third quarter. Institutional investors own 87.84% of the company’s stock.
• IDEXX reported quarterly earnings of $3.96 per share, beating the $3.71 consensus estimate; revenue of $1.21 billion also topped expectations and grew 9.9% year over year.
• Analysts rate the stock a “Moderate Buy,” with a consensus price target of $719.55. Recent insider sales and concerns that the shares may be expensive are potential counterpoints.

Bryn Mawr Trust Advisors LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,989 shares of the company's stock, valued at approximately $5,216,000.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of IDEXX Laboratories during the second quarter worth about $628,223,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of IDEXX Laboratories by 52.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company's stock valued at $471,335,000 after purchasing an additional 288,471 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of IDEXX Laboratories by 30,484.1% in the 3rd quarter. International Assets Investment Management LLC now owns 234,274 shares of the company's stock valued at $122,336,000 after purchasing an additional 233,508 shares during the period. Alyeska Investment Group L.P. grew its position in shares of IDEXX Laboratories by 97.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company's stock valued at $211,146,000 after purchasing an additional 197,808 shares during the period. Finally, American Capital Management Inc. acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $85,341,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX stock opened at $676.04 on Monday. The stock has a 50-day moving average price of $546.75 and a two-hundred day moving average price of $573.35. IDEXX Laboratories, Inc. has a 1 year low of $500.61 and a 1 year high of $769.98. The stock has a market cap of $53.27 billion, a PE ratio of 45.59 and a beta of 1.55. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, beating analysts' consensus estimates of $3.71 by $0.25. The company 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.22 earnings per share. Equities analysts forecast that IDEXX Laboratories, Inc. will post 15.05 EPS for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, insider Jonathan Mazelsky sold 25,140 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $703.19, for a total value of $17,678,196.60. Following the sale, the insider owned 83,803 shares in the company, valued at approximately $58,929,431.57. The trade was a 23.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sharon E. Underberg sold 8,906 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $688.59, for a total value of $6,132,582.54. Following the transaction, the executive vice president directly owned 7,169 shares of the company's stock, valued at approximately $4,936,501.71. This trade represents a 55.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,428 shares of company stock valued at $28,567,934 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IDXX shares. KeyCorp assumed coverage on IDEXX Laboratories in a research note on Monday, October 12th. They set a "sector weight" rating for the company. Jefferies Financial Group cut their price target on shares of IDEXX Laboratories from $795.00 to $705.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Weiss Ratings raised shares of IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. UBS Group upped their price target on shares of IDEXX Laboratories from $627.00 to $700.00 and gave the company a "neutral" rating in a report on Tuesday, November 3rd. Finally, Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $719.55.

Key Headlines Impacting IDEXX Laboratories

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.

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