Pacer Advisors Inc. Sells 2,971 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pacer Advisors Inc. trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 10,771 shares of the company’s stock after selling 2,971 shares during the quarter. Pacer Advisors Inc.’s holdings in IDEXX Laboratories were worth $4,453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of IDXX. FSA Wealth Management LLC bought a new stake in IDEXX Laboratories during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in IDEXX Laboratories in the second quarter valued at approximately $36,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Up 1.3 %

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

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

Insider Buying and Selling at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories 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 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the subject of several recent analyst reports. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Piper Sandler restated a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price objective 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus 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.