IDEXX Laboratories (NASDAQ:IDXX) Director Sells 2,203 Shares of Stock

Key Points

• IDEXX Laboratories director Lawrence Kingsley sold 2,203 shares for approximately $1.17 million, reducing his ownership by 18.72% to 9,568 shares.
• IDXX shares traded at $515.15, near the company’s one-year low of $511.16 and below both its 50-day and 200-day moving averages.
• The company exceeded quarterly earnings and revenue expectations, reporting $4.27 in EPS and $1.22 billion in revenue, while analysts maintain a “Moderate Buy” consensus with a $747 price target.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) Director Lawrence Kingsley sold 2,203 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $532.08, for a total value of $1,172,172.24. Following the sale, the director owned 9,568 shares of the company's stock, valued at approximately $5,090,941.44. This trade represents a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $5.06 during midday trading on Wednesday, hitting $515.15. The stock had a trading volume of 554,634 shares, compared to its average volume of 578,740. The company has a market capitalization of $40.58 billion, a PE ratio of 36.23, a P/E/G ratio of 2.86 and a beta of 1.54. The stock has a 50 day simple moving average of $558.13 and a 200-day simple moving average of $568.61. IDEXX Laboratories, Inc. has a 1 year low of $511.16 and a 1 year high of $769.98. The company has a quick ratio of 0.87, a current ratio of 1.17 and a debt-to-equity ratio of 0.19.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $4.27 EPS for the quarter, topping the consensus estimate of $3.94 by $0.33. IDEXX Laboratories had a return on equity of 71.96% and a net margin of 25.03%.The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. IDEXX Laboratories has set its FY 2026 guidance at 14.690-14.940 EPS. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 14.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IDXX shares. Barclays decreased their price target on shares of IDEXX Laboratories from $800.00 to $710.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Citigroup upped their price objective on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. UBS Group increased their price objective on shares of IDEXX Laboratories from $620.00 to $670.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings cut IDEXX Laboratories from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, August 27th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $747.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IDXX. National Pension Service boosted its position in shares of IDEXX Laboratories by 5.6% during the 2nd quarter. National Pension Service now owns 129,305 shares of the company's stock valued at $68,071,000 after acquiring an additional 6,885 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of IDEXX Laboratories by 162.6% in the second quarter. Engineers Gate Manager LP now owns 5,186 shares of the company's stock valued at $2,730,000 after purchasing an additional 3,211 shares during the period. IFP Advisors Inc increased its position in IDEXX Laboratories by 9.8% during the second quarter. IFP Advisors Inc now owns 585 shares of the company's stock worth $308,000 after purchasing an additional 52 shares during the last quarter. Sterling Investment Advisors Ltd. grew its stake in shares of IDEXX Laboratories by 9.1% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 1,200 shares of the company's stock valued at $632,000 after buying an additional 100 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of IDEXX Laboratories by 4.9% in the 2nd quarter. Arizona State Retirement System now owns 22,772 shares of the company's stock valued at $11,988,000 after buying an additional 1,074 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops and provides diagnostic, information technology and veterinary practice-management products and services. The company primarily serves the companion animal, livestock and poultry, and water testing markets, helping customers detect, monitor and manage disease.

Its companion animal business includes in-house laboratory analyzers and consumables, reference laboratory services, diagnostic tests, veterinary software, digital imaging and related practice-management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.