Villere ST Denis J & Co. LLC Sells 2,145 Shares of IDEXX Laboratories, Inc. $IDXX

Key Points

• Villere ST Denis J & Co. cut its IDEXX Laboratories stake by 6.4%, selling 2,145 shares and ending the quarter with 31,598 shares worth about $16.5 million.
• IDEXX reported quarterly EPS of $3.96, beating the $3.71 consensus, while revenue of $1.21 billion exceeded estimates and rose 9.9% year over year.
• Analysts maintain a Moderate Buy consensus with an average $717.27 price target; company insiders sold 41,428 shares worth roughly $28.6 million over 90 days.

Villere ST Denis J & Co. LLC trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,598 shares of the company's stock after selling 2,145 shares during the period. IDEXX Laboratories accounts for about 1.7% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 24th biggest holding. Villere ST Denis J & Co. LLC's holdings in IDEXX Laboratories were worth $16,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDXX. J.Safra Asset Management Corp bought a new stake in IDEXX Laboratories in the 2nd quarter valued at $25,000. Elevation Wealth Partners LLC boosted its position in IDEXX Laboratories by 188.2% during the second quarter. Elevation Wealth Partners LLC now owns 49 shares of the company's stock worth $26,000 after purchasing an additional 32 shares during the period. Pension & Wealth Management Advisors Inc. acquired a new position in shares of IDEXX Laboratories in the third quarter valued at $29,000. Arlington Trust Co LLC increased its holdings in shares of IDEXX Laboratories by 46.3% in the second quarter. Arlington Trust Co LLC now owns 60 shares of the company's stock valued at $32,000 after purchasing an additional 19 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in shares of IDEXX Laboratories by 45.5% in the third quarter. Bell Investment Advisors Inc now owns 64 shares of the company's stock valued at $33,000 after purchasing an additional 20 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 3,979 shares of the firm's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $688.64, for a total value of $2,740,098.56. Following the sale, the executive vice president owned 4,076 shares in the company, valued at $2,806,896.64. This trade represents a 49.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lawrence D. Kingsley sold 2,203 shares of the business's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $532.08, for a total value of $1,172,172.24. Following the sale, the director owned 9,568 shares in the company, valued at $5,090,941.44. This represents a 18.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,428 shares of company stock worth $28,567,934 over the last 90 days. 0.79% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IDXX. UBS Group lifted their target price on shares of IDEXX Laboratories from $627.00 to $700.00 and gave the stock a "neutral" rating in a report on Tuesday, November 3rd. The Goldman Sachs Group started coverage on shares of IDEXX Laboratories in a report on Friday, October 16th. They issued a "buy" rating and a $740.00 price target on the stock. Leerink Partners cut their price objective on shares of IDEXX Laboratories from $725.00 to $715.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Jefferies Financial Group dropped their price target on IDEXX Laboratories from $795.00 to $705.00 and set a "buy" rating for the company in a report on Tuesday, October 20th. Finally, KeyCorp began coverage on IDEXX Laboratories in a research note on Monday, October 12th. They issued a "sector weight" rating for the company. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $717.27.

IDEXX Laboratories Trading Up 4.5%

Shares of NASDAQ:IDXX opened at $706.65 on Tuesday. The company has a market capitalization of $55.68 billion, a P/E ratio of 47.65 and a beta of 1.55. IDEXX Laboratories, Inc. has a 1 year low of $500.61 and a 1 year high of $769.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.87. The business's 50 day simple moving average is $549.78 and its 200 day simple moving average is $573.40.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.71 by $0.25. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The company's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $3.22 EPS. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 15.05 EPS for the current fiscal year.

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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