IDEXX Laboratories, Inc. (NASDAQ:IDXX) EVP Michael Lane Sells 8,411 Shares

Key Points

• IDEXX Laboratories EVP Michael Lane sold 8,411 shares at an average price of $627.74, totaling over $5 million, which reduced his ownership by 54.11% to 7,132 shares.
• The company reported $3.63 earnings per share for the last quarter, surpassing the expected $3.28 by $0.35, alongside a revenue of $1.11 billion.
• Analysts have set a consensus rating of "Moderate Buy" for IDEXX Laboratories, with an average price target of $623.56.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) EVP Michael Lane sold 8,411 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total transaction of $5,279,921.14. Following the completion of the transaction, the executive vice president directly owned 7,132 shares in the company, valued at approximately $4,477,041.68. The trade was a 54.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $8.00 on Friday, hitting $658.06. 566,277 shares of the company traded hands, compared to its average volume of 814,516. The stock has a market capitalization of $52.64 billion, a P/E ratio of 54.79, a price-to-earnings-growth ratio of 4.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12. The business has a 50-day simple moving average of $545.23 and a 200 day simple moving average of $479.32.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (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 analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley set a $722.00 price objective on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a report on Tuesday. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. 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 report on Thursday, July 17th. 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 report on Tuesday. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $623.56.

Institutional Investors Weigh In On IDEXX Laboratories

Several large investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its position in IDEXX Laboratories by 6.6% in the second quarter. Rockefeller Capital Management L.P. now owns 54,826 shares of the company's stock worth $29,406,000 after purchasing an additional 3,400 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in IDEXX Laboratories by 53.1% during the second quarter. Citizens Financial Group Inc. RI now owns 1,608 shares of the company's stock worth $863,000 after buying an additional 558 shares during the period. Jensen Investment Management Inc. boosted its stake in IDEXX Laboratories by 27.1% during the second quarter. Jensen Investment Management Inc. now owns 10,410 shares of the company's stock worth $5,583,000 after buying an additional 2,220 shares during the period. Cetera Investment Advisers boosted its stake in IDEXX Laboratories by 6.3% during the second quarter. Cetera Investment Advisers now owns 20,643 shares of the company's stock worth $11,072,000 after buying an additional 1,223 shares during the period. Finally, Creative Planning boosted its stake in IDEXX Laboratories by 11.7% during the second quarter. Creative Planning now owns 29,068 shares of the company's stock worth $15,590,000 after buying an additional 3,052 shares during the period. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.