IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Comerica Bank

Comerica Bank reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,462 shares of the company's stock after selling 2,089 shares during the quarter. Comerica Bank's holdings in IDEXX Laboratories were worth $6,806,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Insight Wealth Strategies LLC increased its position in shares of IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock valued at $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Sax Wealth Advisors LLC raised its position in IDEXX Laboratories by 76.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock worth $590,000 after acquiring an additional 617 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of IDEXX Laboratories by 11.5% during the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock worth $3,199,000 after acquiring an additional 800 shares during the last quarter. Paragon Capital Management Inc. grew its position in shares of IDEXX Laboratories by 25.7% during the 4th quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock valued at $1,579,000 after acquiring an additional 782 shares during the period. Finally, Manitou Investment Management Ltd. increased its stake in shares of IDEXX Laboratories by 491.0% in the 4th quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company's stock worth $21,582,000 after purchasing an additional 43,369 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded up $1.72 during trading on Friday, hitting $491.70. The company had a trading volume of 668,459 shares, compared to its average volume of 648,862. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. The firm has a market capitalization of $39.85 billion, a price-to-earnings ratio of 46.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The stock has a fifty day simple moving average of $422.31 and a two-hundred day simple moving average of $429.15.

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

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the firm's 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Barclays lifted 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. Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $524.75.

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.