IDEXX Laboratories, Inc. (NASDAQ:IDXX) EVP Nimrata Hunt Sells 7,143 Shares

Key Points

• Nimrata Hunt, EVP of IDEXX Laboratories, sold 7,143 shares of the company's stock at an average price of $630.43, totaling approximately $4.5 million, which decreased their ownership by 28.40%.
• IDEXX Laboratories reported earnings of $3.63 per share for the last quarter, exceeding analysts' estimates, and achieved a year-over-year revenue growth of 10.6%.
• Several analysts upgraded their ratings for IDEXX Laboratories, with a consensus price target of $623.56, while one firm set a target as high as $785.00.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) EVP Nimrata Hunt sold 7,143 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the transaction, the executive vice president owned 18,007 shares of the company's stock, valued at approximately $11,352,153.01. This represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded up $8.00 during trading on Friday, hitting $658.06. 566,277 shares of the company were exchanged, compared to its average volume of 814,516. The company 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. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The business's 50 day moving average is $545.23 and its 200-day moving average is $479.32. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%. IDEXX Laboratories's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research report on Monday. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. BTIG Research boosted their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report 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's stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and an average target price of $623.56.

Institutional Trading of IDEXX Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of IDXX. Cerity Partners LLC boosted its position in IDEXX Laboratories by 4.3% during the fourth quarter. Cerity Partners LLC now owns 11,395 shares of the company's stock valued at $5,073,000 after acquiring an additional 471 shares during the last quarter. Bank of Montreal Can boosted its position in IDEXX Laboratories by 3.9% during the fourth quarter. Bank of Montreal Can now owns 120,276 shares of the company's stock valued at $49,727,000 after acquiring an additional 4,511 shares during the last quarter. Bank of Nova Scotia boosted its position in IDEXX Laboratories by 146.3% during the fourth quarter. Bank of Nova Scotia now owns 24,089 shares of the company's stock valued at $9,959,000 after acquiring an additional 14,307 shares during the last quarter. Bessemer Group Inc. boosted its position in IDEXX Laboratories by 1,708.8% during the fourth quarter. Bessemer Group Inc. now owns 229,246 shares of the company's stock valued at $94,779,000 after acquiring an additional 216,572 shares during the last quarter. Finally, First Foundation Advisors boosted its position in IDEXX Laboratories by 10.3% during the fourth quarter. First Foundation Advisors now owns 7,566 shares of the company's stock valued at $3,128,000 after acquiring an additional 706 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.

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