ING Groep NV Sells 2,437 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• ING Groep NV reduced its holdings in IDEXX Laboratories by 21.5% during the first quarter, now owning 8,901 shares valued at approximately $3.74 million.
• JPMorgan Chase & Co. and BTIG Research have recently upgraded their price targets for IDEXX Laboratories, with BTIG now targeting $785.00 per share and JPMorgan increasing its target to $675.00.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, exceeding expectations and reflecting a revenue increase of 10.6% year-over-year.

ING Groep NV lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,901 shares of the company's stock after selling 2,437 shares during the period. ING Groep NV's holdings in IDEXX Laboratories were worth $3,738,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in IDEXX Laboratories during the first quarter valued at approximately $26,000. Colonial Trust Co SC increased its position in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of IDEXX Laboratories by 55.6% during the first 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 period. Bank of Jackson Hole Trust grew its stake in shares of IDEXX Laboratories by 328.6% in the first 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. increased its holdings in IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the period. 87.84% of the stock is owned by institutional investors.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $17.75 during trading hours on Wednesday, reaching $624.19. The company had a trading volume of 816,294 shares, compared to its average volume of 770,026. The firm has a market cap of $50.20 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 4.32 and a beta of 1.49. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The firm's 50 day moving average price is $537.43 and its 200-day moving average price is $475.11. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the business earned $2.44 earnings per share. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IDXX shares. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley set a $722.00 price target on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a research note on Tuesday. Leerink Partners lifted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Finally, Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research note on Monday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus 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.