IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer directly owned 83,311 shares in the company, valued at $52,650,885.78. This trade represents a 25.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
IDEXX Laboratories Trading Up 1.2%
Shares of IDEXX Laboratories stock traded up $8.00 during trading hours on Friday, reaching $658.06. 566,277 shares of the company's stock were exchanged, compared to its average volume of 814,516. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The firm has a market capitalization of $52.64 billion, a price-to-earnings ratio of 54.79, a price-to-earnings-growth ratio of 4.20 and a beta of 1.49. The company has a fifty day moving average of $545.23 and a 200-day moving average of $479.32. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31.
IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company posted $2.44 EPS. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. Morgan Stanley set a $722.00 target price on IDEXX Laboratories and gave the company an "overweight" rating in a research note on Tuesday. Leerink Partners upped their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday. Three equities 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. According to MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average price target of $623.56.
Get Our Latest Analysis on IDXX
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in IDXX. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories in the first quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in IDEXX Laboratories in the second quarter valued at $29,000. Colonial Trust Co SC boosted its holdings in 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 last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after acquiring an additional 30 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in IDEXX Laboratories in the second quarter valued at $36,000. Hedge funds and other institutional investors own 87.84% of the company's stock.
About IDEXX Laboratories
(
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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.
Further Reading
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