IDEXX Laboratories, Inc. $IDXX Stock Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,217 shares of the company’s stock after selling 1,118 shares during the period. Boston Trust Walden Corp’s holdings in IDEXX Laboratories were worth $4,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. J.Safra Asset Management Corp acquired a new position in shares of IDEXX Laboratories during the second quarter worth about $25,000. Elevation Wealth Partners LLC raised its stake in IDEXX Laboratories by 188.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 49 shares of the company’s stock worth $26,000 after acquiring an additional 32 shares in the last quarter. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $29,000. Arlington Trust Co LLC grew its position in shares of IDEXX Laboratories by 46.3% during the second quarter. Arlington Trust Co LLC now owns 60 shares of the company’s stock worth $32,000 after acquiring an additional 19 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its holdings in shares of IDEXX Laboratories by 45.5% in the third quarter. Bell Investment Advisors Inc now owns 64 shares of the company’s stock valued at $33,000 after buying an additional 20 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories News Roundup

Here are the key news stories impacting IDEXX Laboratories this week:

• Positive Sentiment: A Zacks article says IDEXX’s above-average financial growth could help it outperform, bolstering the growth-investment case. Zacks growth-investor article
• Positive Sentiment: Morgan Stanley raised its price target on IDXX, a potentially supportive analyst signal; the available report does not state the revised target. Morgan Stanley price-target report
• Positive Sentiment: Recent quarterly results beat expectations: IDEXX reported EPS of $3.96 versus $3.71 expected and revenue of $1.21 billion versus $1.19 billion expected. Revenue grew 9.9% year over year. IDEXX quarterly results analysis
• Negative Sentiment: Four directors and executives sold a combined 39,225 shares on November 4, worth about $27.4 million, and each reduced their reported holdings. The sales may weigh on sentiment, although insider transactions do not by themselves indicate a negative company outlook. Insider-trading report
• Negative Sentiment: A Seeking Alpha article downgraded IDXX, arguing the shares are expensive despite the company’s business quality. Valuation concerns could temper the positive effect of earnings growth. IDEXX valuation downgrade

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. BTIG Research dropped coverage on shares of IDEXX Laboratories in a research note on Friday, October 30th. They issued a “buy” rating for the company. UBS Group lifted their price objective on IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group started coverage on IDEXX Laboratories in a research note on Friday, October 16th. They set a “buy” rating and a $740.00 target price for the company. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Finally, Leerink Partners decreased their price target on IDEXX Laboratories from $725.00 to $715.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $719.55.

IDEXX Laboratories Stock Up 0.8%

IDXX stock opened at $676.04 on Friday. The company has a market cap of $53.26 billion, a P/E ratio of 45.59 and a beta of 1.55. IDEXX Laboratories, Inc. has a 52 week low of $500.61 and a 52 week high of $769.98. The company’s 50-day moving average price is $546.75 and its 200 day moving average price is $573.35. The company has a current ratio of 1.19, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 2nd. The company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.71 by $0.25. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $3.22 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts expect that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel M. Junius sold 1,200 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $704.07, for a total value of $844,884.00. Following the sale, the director directly owned 2,361 shares in the company, valued at $1,662,309.27. The trade was a 33.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Lane sold 3,979 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $688.64, for a total transaction of $2,740,098.56. Following the transaction, the executive vice president owned 4,076 shares of the company’s stock, valued at $2,806,896.64. This trade represents a 49.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,428 shares of company stock valued at $28,567,934 in the last three months. 0.79% of the stock is owned by insiders.

IDEXX Laboratories Company Profile

IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices.

The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.