Grimes & Company Inc. Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Grimes & Company Inc. reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,473 shares of the company’s stock after selling 229 shares during the quarter. Grimes & Company Inc.’s holdings in IDEXX Laboratories were worth $1,849,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Piper Sandler reissued a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $523.86.

IDEXX Laboratories Stock Up 0.7 %

IDXX opened at $435.33 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The business has a 50-day moving average of $423.74 and a two-hundred day moving average of $456.35. 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 stock has a market capitalization of $35.65 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.53 earnings per share. On average, research analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

About IDEXX Laboratories

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.