IDEXX Laboratories, Inc. (NASDAQ:IDXX) EVP Sharon E. Underberg Sells 5,450 Shares

Key Points

• Sharon E. Underberg, EVP of IDEXX Laboratories, sold 5,450 shares at an average price of $651.60, reducing her ownership by 46.96% and generating approximately $3.55 million.
• The company's Q2 earnings report surpassed expectations with $3.63 EPS, compared to estimates of $3.28, and revenue of $1.11 billion, reflecting a 10.6% increase from the previous year.
• IDEXX Laboratories has seen a series of analyst upgrades, with price targets now ranging from $600 to $785, indicating strong market confidence and a consensus rating of "Moderate Buy".

IDEXX Laboratories, Inc. (NASDAQ:IDXX - Get Free Report) EVP Sharon E. Underberg sold 5,450 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the transaction, the executive vice president owned 6,156 shares of the company's stock, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

IDEXX Laboratories Stock Performance

NASDAQ IDXX traded down $3.11 during trading hours on Friday, hitting $650.84. The company had a trading volume of 418,031 shares, compared to its average volume of 851,260. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $558.44 and a 200-day simple moving average of $487.59. The firm has a market cap of $52.07 billion, a P/E ratio of 54.19, a price-to-earnings-growth ratio of 4.21 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $2.44 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Institutional Investors Weigh In On IDEXX Laboratories

Several large investors have recently added to or reduced their stakes in the stock. STF Management LP grew its stake in shares of IDEXX Laboratories by 1.3% in the second quarter. STF Management LP now owns 1,240 shares of the company's stock worth $665,000 after purchasing an additional 16 shares in the last quarter. Clearstead Trust LLC boosted its position in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Clearstead Trust LLC now owns 1,515 shares of the company's stock valued at $813,000 after purchasing an additional 16 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of IDEXX Laboratories by 1.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 1,051 shares of the company's stock valued at $564,000 after purchasing an additional 18 shares during the period. Red Spruce Capital LLC lifted its stake in IDEXX Laboratories by 1.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,701 shares of the company's stock worth $912,000 after acquiring an additional 19 shares in the last quarter. Finally, Huntington National Bank lifted its stake in IDEXX Laboratories by 0.5% in the 2nd quarter. Huntington National Bank now owns 3,651 shares of the company's stock worth $1,958,000 after acquiring an additional 19 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IDXX. BTIG Research increased their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley increased their target price on IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research note on Friday. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Piper Sandler reissued a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

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.