IDEXX Laboratories (NASDAQ:IDXX) EVP Sells $2,740,098.56 in Stock

Key Points

• IDEXX EVP Michael Lane sold 3,979 shares for about $2.74 million at an average price of $688.64, reducing his direct ownership by 49.4% to 4,076 shares.
• The company beat quarterly estimates, reporting EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion; revenue rose 9.9% year over year.
• IDXX shares fell 4% to $670.71 on Thursday. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $719.55.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) EVP Michael Lane sold 3,979 shares of the business's stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $688.64, for a total transaction of $2,740,098.56. Following the transaction, the executive vice president directly owned 4,076 shares in the company, valued at approximately $2,806,896.64. The trade was a 49.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

IDEXX Laboratories Stock Down 4.0%

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

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

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors have recently modified their holdings of IDXX. Bank of New York Mellon Corp acquired a new position in IDEXX Laboratories in the second quarter worth about $628,223,000. Arrowstreet Capital Limited Partnership raised its stake in IDEXX Laboratories by 52.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company's stock valued at $471,335,000 after buying an additional 288,471 shares in the last quarter. International Assets Investment Management LLC raised its stake in IDEXX Laboratories by 30,484.1% during the third quarter. International Assets Investment Management LLC now owns 234,274 shares of the company's stock valued at $122,336,000 after buying an additional 233,508 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in IDEXX Laboratories by 97.3% during the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company's stock worth $211,146,000 after buying an additional 197,808 shares during the last quarter. Finally, American Capital Management Inc. bought a new position in IDEXX Laboratories during the 2nd quarter worth approximately $85,341,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDXX. UBS Group lifted their target price on IDEXX Laboratories from $627.00 to $700.00 and gave the stock a "neutral" rating in a research report on Tuesday. Leerink Partners dropped their price objective on IDEXX Laboratories from $725.00 to $715.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Weiss Ratings upgraded IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Morgan Stanley raised their price target on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the stock an "overweight" rating in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $719.55.

IDEXX Laboratories Company Profile

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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