IDEXX Laboratories (NASDAQ:IDXX) Director Sells $844,884.00 in Stock

Key Points

• Director Daniel Junius sold 1,200 IDEXX shares for $844,884 at an average price of $704.07, reducing his position by 33.7% to 2,361 shares.
• IDEXX shares fell 4.0% in Thursday trading, closing at $670.71.
• The company beat quarterly estimates, reporting EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion, up 9.9% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $719.55.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) Director Daniel Junius sold 1,200 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $704.07, for a total value of $844,884.00. Following the transaction, the director directly owned 2,361 shares of the company's stock, valued at approximately $1,662,309.27. This trade represents a 33.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IDEXX Laboratories Stock Down 4.0%

Shares of IDXX traded down $27.84 during mid-day trading on Thursday, hitting $670.71. 873,031 shares of the company's stock were exchanged, compared to its average volume of 583,252. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.87. IDEXX Laboratories, Inc. has a 52 week low of $500.61 and a 52 week high of $769.98. The company has a market cap of $52.85 billion, a PE ratio of 45.23 and a beta of 1.55. The company has a 50-day simple moving average of $541.78 and a 200 day simple moving average of $573.62.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported $3.96 EPS for the quarter, topping analysts' consensus estimates of $3.71 by $0.25. IDEXX Laboratories had a net margin of 25.36% and a return on equity of 71.04%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $3.22 earnings per share. The firm's revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 15.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors have recently added to or reduced their stakes in IDXX. Bank of New York Mellon Corp bought a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of IDEXX Laboratories by 4.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company's stock worth $479,844,000 after purchasing an additional 39,700 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of IDEXX Laboratories by 52.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company's stock valued at $471,335,000 after purchasing an additional 288,471 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of IDEXX Laboratories by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company's stock valued at $322,145,000 after purchasing an additional 23,582 shares during the period. Finally, Alyeska Investment Group L.P. lifted its stake in IDEXX Laboratories by 97.3% in the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company's stock valued at $211,146,000 after purchasing an additional 197,808 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on IDXX. Barclays cut 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 report on Tuesday, August 11th. Jefferies Financial Group decreased their price objective on IDEXX Laboratories from $795.00 to $705.00 and set a "buy" rating for the company in a report on Tuesday, October 20th. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Leerink Partners dropped their target price on IDEXX Laboratories from $725.00 to $715.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Finally, Citigroup increased their price target on IDEXX Laboratories from $650.00 to $670.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $719.55.

About IDEXX Laboratories

IDEXX Laboratories, Inc NASDAQ: IDXX develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX's companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.

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