IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 912,874 shares of the company's stock after acquiring an additional 143,369 shares during the period. Northern Trust Corp owned about 1.11% of IDEXX Laboratories worth $377,419,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $31,000. Kestra Investment Management LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth about $38,000. Finally, Crews Bank & Trust purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded up $0.52 during mid-day trading on Friday, reaching $471.90. The stock had a trading volume of 1,030,920 shares, compared to its average volume of 641,532. The company has a market cap of $38.24 billion, a P/E ratio of 44.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88. The business has a 50-day simple moving average of $419.26 and a 200 day simple moving average of $428.52.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on IDXX shares. Morgan Stanley dropped their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Bank of America boosted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $523.75.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction dated 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 owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, the director now directly owns 3,061 shares of the company's stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% of the company's stock.

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.