IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by ROI Financial Advisors LLC

Key Points

• ROI Financial Advisors LLC decreased its stake in IDEXX Laboratories, Inc. by 31.6%, reducing its holdings to 2,271 shares valued at approximately $954,000.
• Major institutional investors, including Aviva PLC and Russell Investments Group Ltd., increased their positions in IDEXX Laboratories, reflecting growing interest in the company.
• IDEXX Laboratories reported a quarterly EPS of $2.96, surpassing analyst expectations, while also achieving a revenue increase of 3.6% compared to the same quarter last year.

ROI Financial Advisors LLC lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 31.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,271 shares of the company's stock after selling 1,051 shares during the period. ROI Financial Advisors LLC's holdings in IDEXX Laboratories were worth $954,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in IDXX. Weitz Investment Management Inc. purchased a new position in IDEXX Laboratories in the first quarter worth approximately $25,323,000. Clearstead Trust LLC raised its stake in IDEXX Laboratories by 10.3% in the first quarter. Clearstead Trust LLC now owns 1,499 shares of the company's stock valued at $630,000 after buying an additional 140 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of IDEXX Laboratories by 21.0% during the 1st quarter. Manchester Capital Management LLC now owns 242 shares of the company's stock worth $102,000 after acquiring an additional 42 shares in the last quarter. Liberty Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $8,818,000. Finally, LGT Capital Partners LTD. lifted its stake in IDEXX Laboratories by 8.3% during the first quarter. LGT Capital Partners LTD. now owns 155,138 shares of the company's stock worth $65,150,000 after purchasing an additional 11,840 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 2.8%

IDEXX Laboratories stock traded down $17.75 during midday trading on Wednesday, reaching $624.19. The stock had a trading volume of 816,294 shares, compared to its average volume of 770,026. The stock's 50-day simple moving average is $537.43 and its 200 day simple moving average is $475.11. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.11. The stock has a market capitalization of $50.20 billion, a PE ratio of 51.97, a price-to-earnings-growth ratio of 4.32 and a beta of 1.49.

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

Insider Buying and Selling

In related news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director directly owned 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on IDXX. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. increased their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday. BTIG Research increased their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Three 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $623.56.

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.