IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,960 shares of the company’s stock after selling 22 shares during the period. Valmark Advisers Inc.’s holdings in IDEXX Laboratories were worth $1,088,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Gotham Asset Management LLC boosted its holdings in shares of IDEXX Laboratories by 79.9% in the 3rd quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock valued at $7,620,000 after buying an additional 7,741 shares in the last quarter. NewEdge Wealth LLC boosted its stake in IDEXX Laboratories by 30.4% in the third quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock valued at $279,000 after acquiring an additional 149 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in IDEXX Laboratories by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock valued at $24,196,000 after acquiring an additional 8,831 shares in the last quarter. Carderock Capital Management Inc. grew its holdings in shares of IDEXX Laboratories by 35.7% during the fourth quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock worth $9,112,000 after purchasing an additional 4,315 shares during the last quarter. Finally, Mitchell Capital Management Co. increased its position in shares of IDEXX Laboratories by 1.3% during the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company’s stock worth $2,786,000 after purchasing an additional 79 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDXX has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays lifted their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a research note on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $591.50.

Insiders Place Their Bets

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded up $10.06 on Friday, reaching $499.30. 529,834 shares of the stock were exchanged, compared to its average volume of 416,262. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $41.47 billion, a PE ratio of 49.58, a PEG ratio of 3.84 and a beta of 1.26. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The business has a fifty day moving average price of $531.02 and a two-hundred day moving average price of $511.17.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.14 earnings per share for the current fiscal year.

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.