Gulf International Bank UK Ltd Sells 1,846 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Gulf International Bank UK Ltd reduced its stake in IDEXX Laboratories, Inc. by 28.4%, holding 4,646 shares worth $1,951,000 after selling 1,846 shares in the first quarter.
• Several analysts have recently raised their target prices for IDEXX Laboratories, with ranges now between $600.00 and $722.00, while the stock has been given a consensus rating of "Moderate Buy."
• Institutional investors own 87.84% of IDEXX Laboratories, indicating strong confidence in the company, while insiders have sold over 54,000 shares recently.

Gulf International Bank UK Ltd reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,646 shares of the company's stock after selling 1,846 shares during the quarter. Gulf International Bank UK Ltd's holdings in IDEXX Laboratories were worth $1,951,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories in the 1st quarter valued at $26,000. Colonial Trust Co SC grew its holdings in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the last quarter. Bank of Jackson Hole Trust grew its holdings in shares of IDEXX Laboratories by 328.6% in the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after purchasing an additional 81 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the stock an "overweight" rating in a report on Friday. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a report on Monday, August 4th. Leerink Partners increased their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and an average target price of $649.44.

Insiders Place Their Bets

In related news, EVP Michael Lane sold 8,411 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at approximately $4,477,041.68. This represents a 54.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the sale, the executive vice president directly owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,176 shares of company stock worth $34,060,678 over the last ninety days. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Trading Down 2.0%

IDEXX Laboratories stock traded down $12.98 during trading hours on Monday, reaching $637.86. 436,405 shares of the company's stock traded hands, compared to its average volume of 729,301. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The firm has a market capitalization of $51.03 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 4.21 and a beta of 1.49. The firm's 50 day moving average is $558.44 and its 200-day moving average is $488.03.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

IDEXX Laboratories 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.