MML Investors Services LLC Sells 6,614 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

MML Investors Services LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 53.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,757 shares of the company's stock after selling 6,614 shares during the quarter. MML Investors Services LLC's holdings in IDEXX Laboratories were worth $2,380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hurley Capital LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $38,000. Finally, Crews Bank & Trust acquired a new position in IDEXX Laboratories during the 4th quarter worth approximately $41,000. Institutional investors own 87.84% of the company's stock.

Insider Buying and Selling

In other news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares of the company's stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Trading Up 0.1 %

Shares of NASDAQ IDXX traded up $0.52 during midday trading on Friday, reaching $471.90. The stock had a trading volume of 1,030,920 shares, compared to its average volume of 641,908. The company's 50 day moving average price is $419.26 and its 200 day moving average price is $428.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $548.88. The firm has a market cap of $38.24 billion, a price-to-earnings ratio of 44.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter in the previous year, the business earned $2.71 earnings per share. IDEXX Laboratories's revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Morgan Stanley lowered their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and a consensus target price of $523.75.

IDEXX Laboratories 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.