Headlands Technologies LLC Sells 1,940 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Headlands Technologies LLC reduced its stake in IDEXX Laboratories by 33.9%, now holding 3,781 shares valued at approximately $1.59 million.
• IDEXX Laboratories reported a quarterly EPS of $3.63, exceeding estimates and demonstrating a 10.6% increase in revenue year-over-year.
• Analysts' ratings on IDEXX Laboratories vary, with an average price target of $623.56 and several firms increasing their targets, reflecting a positive outlook.

Headlands Technologies LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 33.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,781 shares of the company's stock after selling 1,940 shares during the period. Headlands Technologies LLC's holdings in IDEXX Laboratories were worth $1,588,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IDXX. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $26,000. Colonial Trust Co SC increased its position 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 valued at $35,000 after buying an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position 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 valued at $35,000 after buying an additional 30 shares in the last quarter. Bank of Jackson Hole Trust increased its position 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 valued at $39,000 after buying an additional 69 shares in the last quarter. Finally, Itau Unibanco Holding S.A. increased its position 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 valued at $40,000 after buying an additional 81 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Insider Buying and Selling

In other news, EVP Nimrata Hunt sold 7,143 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the transaction, the executive vice president owned 18,007 shares in the company, valued at $11,352,153.01. This trade represents a 28.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the transaction, the executive vice president owned 7,132 shares of the company's stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,120 shares of company stock worth $29,457,738 over the last 90 days. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Up 1.2%

Shares of NASDAQ IDXX traded up $8.00 during mid-day trading on Friday, hitting $658.06. The company had a trading volume of 566,277 shares, compared to its average volume of 814,516. The company has a market capitalization of $52.64 billion, a PE ratio of 54.79, a price-to-earnings-growth ratio of 4.25 and a beta of 1.49. The firm has a 50-day simple moving average of $545.23 and a two-hundred day simple moving average of $479.66. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday, August 4th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. Leerink Partners increased their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $623.56.

About IDEXX Laboratories

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.