IDEXX Laboratories, Inc. $IDXX Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. cut its IDEXX stake by 59.2% in the third quarter, selling 14,198 shares and retaining 9,795 shares valued at about $5.1 million. Institutional investors collectively own 87.84% of the stock.
• IDEXX reported quarterly EPS of $3.96, beating estimates of $3.71, while revenue rose 9.9% year over year to $1.21 billion.
• Company insiders sold 41,428 shares worth about $28.6 million over the past three months. Analysts’ consensus rating is “Moderate Buy,” with a $717.27 price target.

Ethic Inc. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 59.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,795 shares of the company's stock after selling 14,198 shares during the period. Ethic Inc.'s holdings in IDEXX Laboratories were worth $5,115,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IDXX. Alps Advisors Inc. increased its holdings in IDEXX Laboratories by 10.1% during the 3rd quarter. Alps Advisors Inc. now owns 1,956 shares of the company's stock valued at $1,021,000 after purchasing an additional 180 shares during the period. Ashton Thomas Private Wealth LLC increased its position in IDEXX Laboratories by 12.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 632 shares of the company's stock valued at $330,000 after purchasing an additional 70 shares during the period. Alta Advisers Ltd bought a new position in IDEXX Laboratories in the 3rd quarter worth $288,000. Legacies Wealth LLC bought a new position in IDEXX Laboratories in the 3rd quarter worth $176,000. Finally, Pine Haven Investment Counsel Inc raised its stake in IDEXX Laboratories by 3.7% in the third quarter. Pine Haven Investment Counsel Inc now owns 1,439 shares of the company's stock worth $751,000 after buying an additional 51 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Daniel Junius sold 1,200 shares of the business's stock in a transaction dated 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 directly owned 2,361 shares in the company, valued at $1,662,309.27. The trade was a 33.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sharon Underberg sold 8,906 shares of the company's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $688.59, for a total transaction of $6,132,582.54. Following the sale, the executive vice president directly owned 7,169 shares of the company's stock, valued at $4,936,501.71. The trade was a 55.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 41,428 shares of company stock valued at $28,567,934. 0.79% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Up 4.5%

Shares of IDEXX Laboratories stock opened at $706.65 on Tuesday. IDEXX Laboratories, Inc. has a twelve month low of $500.61 and a twelve month high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $549.78 and its 200 day moving average is $573.40. The company has a market cap of $55.68 billion, a price-to-earnings ratio of 47.20 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Monday, November 2nd. The company reported $3.96 earnings per share for the quarter, beating the consensus estimate of $3.71 by $0.25. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.19 billion. During the same period in the prior year, the firm earned $3.22 EPS. The company's revenue was up 9.9% compared to the same quarter last year. Research analysts anticipate that IDEXX Laboratories, Inc. will post 15.05 EPS for the current year.

Analyst Ratings Changes

IDXX has been the topic of a number of research analyst reports. BTIG Research dropped coverage on IDEXX Laboratories in a report on Friday, October 30th. They set a "buy" rating on the stock. KeyCorp initiated coverage on IDEXX Laboratories in a research report on Monday, October 12th. They set a "sector weight" rating on the stock. Leerink Partners reduced their price target on IDEXX Laboratories from $725.00 to $715.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Jefferies Financial Group reduced their price target on IDEXX Laboratories from $795.00 to $705.00 and set a "buy" rating on the stock in a research note on Tuesday, October 20th. Finally, Citigroup boosted their target price on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $717.27.

IDEXX Laboratories 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.

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