Insider Selling: IDEXX Laboratories, Inc. (NASDAQ:IDXX) EVP Sells 406 Shares of Stock

Key Points

• Executive Vice President Michael G. Erickson of IDEXX Laboratories sold 406 shares of stock at an average price of $649.96, totaling approximately $263,883.76, reducing his holdings by 3.47%.
• IDEXX recently reported a quarterly EPS of $3.63, surpassing estimates and demonstrating a 10.6% year-over-year revenue growth.
• The stock has a current market capitalization of $52.32 billion with a consensus rating of "Moderate Buy" and an average price target of $644.67 among analysts.

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) EVP Michael G. Erickson sold 406 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $649.96, for a total transaction of $263,883.76. Following the completion of the sale, the executive vice president directly owned 11,287 shares of the company's stock, valued at $7,336,098.52. The trade was a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

IDEXX Laboratories Stock Performance

Shares of IDXX traded down $9.97 during trading hours on Thursday, reaching $653.95. 504,662 shares of the company traded hands, compared to its average volume of 844,413. The stock has a market capitalization of $52.32 billion, a P/E ratio of 54.45, a P/E/G ratio of 4.30 and a beta of 1.49. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The business has a fifty day moving average price of $553.29 and a 200-day moving average price of $483.95.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the business posted $2.44 EPS. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on IDXX. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Morgan Stanley set a $722.00 price objective on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a research note on Tuesday, August 5th. Piper Sandler reiterated a "neutral" rating and set a $700.00 price objective (up previously from $510.00) on shares of IDEXX Laboratories in a research note on Monday. Finally, Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 4th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $644.67.

Institutional Trading of IDEXX Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the business. Florida Financial Advisors LLC lifted its stake in IDEXX Laboratories by 26.1% during the 2nd quarter. Florida Financial Advisors LLC now owns 927 shares of the company's stock valued at $500,000 after acquiring an additional 192 shares during the period. Camarda Financial Advisors LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $2,484,000. Ausdal Financial Partners Inc. lifted its stake in IDEXX Laboratories by 12.5% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 569 shares of the company's stock valued at $305,000 after acquiring an additional 63 shares during the period. California State Teachers Retirement System lifted its stake in IDEXX Laboratories by 2.2% during the 2nd quarter. California State Teachers Retirement System now owns 128,836 shares of the company's stock valued at $69,100,000 after acquiring an additional 2,742 shares during the period. Finally, Raymond James Financial Inc. increased its holdings in shares of IDEXX Laboratories by 9.1% during the 2nd quarter. Raymond James Financial Inc. now owns 210,773 shares of the company's stock valued at $113,046,000 after purchasing an additional 17,517 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Company Profile

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.

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