US Bancorp DE Sells 432 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• US Bancorp DE reduced its stake in IDEXX Laboratories by 2.6%, selling 432 shares, and now holds 16,187 shares valued at $6.8 million.
• IDEXX Laboratories reported a solid EPS of $3.63, surpassing analysts' expectations, with a year-over-year revenue increase of 10.6% to $1.11 billion.
• Analysts have a generally positive outlook on IDEXX Laboratories, with an average price target of $594.22 and multiple upgrades to "buy" ratings.

US Bancorp DE cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,187 shares of the company's stock after selling 432 shares during the period. US Bancorp DE's holdings in IDEXX Laboratories were worth $6,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories in the first quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in 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 acquiring an additional 30 shares in the last quarter. Colonial Trust Co SC raised its holdings in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of IDEXX Laboratories by 108.0% in the first quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock valued at $44,000 after purchasing an additional 54 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $17.75 on Wednesday, hitting $624.19. The company's stock had a trading volume of 816,294 shares, compared to its average volume of 740,817. 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 has a market capitalization of $50.20 billion, a P/E ratio of 51.97, a price-to-earnings-growth ratio of 4.71 and a beta of 1.49. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The stock has a fifty day moving average of $537.43 and a two-hundred day moving average of $475.11.

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 firm 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%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research report on Monday. Morgan Stanley set a $722.00 target price on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a report on Tuesday. BTIG Research lifted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday. 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 research note on Thursday, July 17th. Finally, Jefferies Financial Group started coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned 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 target price of $623.56.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by corporate insiders.

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.