Blue Trust Inc. Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Blue Trust Inc. trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm 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 the stock. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of IDEXX Laboratories by 182.8% during the 4th 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 period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in IDEXX Laboratories by 44.5% during the fourth 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 period. Marshall Financial Group LLC increased its stake in IDEXX Laboratories by 5.9% during the fourth 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 last quarter. KFG Wealth Management LLC raised its holdings 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 worth $451,000 after purchasing an additional 99 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $1,686,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $423.99 on Friday. The firm has a market cap of $34.72 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 3.63 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $423.93 and its two-hundred day moving average is $454.80. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IDXX. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Stifel Nicolaus lowered 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. Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Two 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $517.29.

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.