Frontier Capital Management Co. LLC Sells 50,466 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Frontier Capital Management Co. LLC decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,129 shares of the company's stock after selling 50,466 shares during the period. Frontier Capital Management Co. LLC owned 0.11% of IDEXX Laboratories worth $37,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $29,000. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $31,000. Colonial Trust Co SC lifted its position in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. This represents a 54.98% decrease in their position. 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 owned by company insiders.

IDEXX Laboratories Stock Up 0.4%

NASDAQ IDXX traded up $1.72 during trading hours on Friday, reaching $491.70. 668,502 shares of the company's stock were exchanged, compared to its average volume of 649,765. The company's 50-day moving average is $423.31 and its two-hundred day moving average is $429.00. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The company has a market capitalization of $39.54 billion, a price-to-earnings ratio of 46.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The business had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. During the same period in the prior year, the business earned $2.71 EPS. IDEXX Laboratories's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on IDXX. Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average target price of $524.75.

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.