IDEXX Laboratories (NASDAQ:IDXX) Stock: Insider Sharon Underberg Sells 8,906 Shares

by · The Cerbat Gem

IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Free Report) EVP Sharon Underberg sold 8,906 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $688.59, for a total value of $6,132,582.54. Following the completion of the sale, the executive vice president owned 7,169 shares of the company’s stock, valued at $4,936,501.71. This represents a 55.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

IDEXX Laboratories Stock Performance

Shares of IDXX traded down $27.84 on Thursday, reaching $670.71. 873,031 shares of the stock traded hands, compared to its average volume of 583,252. The firm has a market cap of $52.85 billion, a price-to-earnings ratio of 45.23 and a beta of 1.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.87. IDEXX Laboratories, Inc. has a 12 month low of $500.61 and a 12 month high of $769.98. The stock’s 50-day moving average price is $541.78 and its 200-day moving average price is $573.62.

IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.71 by $0.25. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the business earned $3.22 earnings per share. IDEXX Laboratories’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities analysts forecast that IDEXX Laboratories, Inc. will post 15.06 EPS for the current fiscal year.

Institutional Investors Weigh In On IDEXX Laboratories

A number of large investors have recently bought and sold shares of IDXX. Bank of New York Mellon Corp bought a new position in IDEXX Laboratories in the 2nd quarter valued at $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of IDEXX Laboratories by 4.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock worth $479,844,000 after purchasing an additional 39,700 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of IDEXX Laboratories by 52.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock worth $471,335,000 after purchasing an additional 288,471 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of IDEXX Laboratories by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock valued at $322,145,000 after buying an additional 23,582 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of IDEXX Laboratories by 97.3% in the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock valued at $211,146,000 after buying an additional 197,808 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on IDXX. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group increased their price target on shares of IDEXX Laboratories from $627.00 to $700.00 and gave the stock a “neutral” rating in a research report on Tuesday. Jefferies Financial Group cut their price target on shares of IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. KeyCorp started coverage on shares of IDEXX Laboratories in a research note on Monday, October 12th. They set a “sector weight” rating for the company. Finally, Citigroup lifted their price objective on IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $719.55.

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About IDEXX Laboratories

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IDEXX Laboratories, Inc (NASDAQ: IDXX) develops and provides diagnostic, information technology, and related products and services for the animal health and water testing markets. The company primarily serves veterinary practices, helping them diagnose and monitor diseases through laboratory tests, in-clinic analyzers, software, and digital practice-management solutions.

IDEXX’s companion animal offerings include hematology, chemistry, urinalysis, immunodiagnostics, and imaging-related products, along with reference laboratory services and veterinary software.

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