Blue Trust Inc. Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Blue Trust Inc. decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,490 shares of the company’s stock after selling 61 shares during the quarter. Blue Trust Inc.’s holdings in IDEXX Laboratories were worth $616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDXX. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of IDEXX Laboratories by 182.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 164 shares of the company’s stock valued at $68,000 after buying an additional 106 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in IDEXX Laboratories by 44.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 610 shares of the company’s stock valued at $252,000 after acquiring an additional 188 shares during the last quarter. Marshall Financial Group LLC lifted its position in IDEXX Laboratories by 5.9% during the 4th quarter. Marshall Financial Group LLC now owns 1,996 shares of the company’s stock worth $825,000 after acquiring an additional 112 shares during the period. KFG Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 10.0% in the 4th quarter. KFG Wealth Management LLC now owns 1,092 shares of the company’s stock valued at $451,000 after purchasing an additional 99 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $1,686,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler reissued a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays lowered their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $517.29.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $423.99 on Friday. The business has a 50 day moving average price of $423.93 and a 200 day moving average price of $454.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market capitalization of $34.72 billion, a P/E ratio of 40.89, a PEG ratio of 3.63 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

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.