IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Norway Savings Bank

Norway Savings Bank lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,307 shares of the company’s stock after selling 85 shares during the quarter. Norway Savings Bank’s holdings in IDEXX Laboratories were worth $1,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sovereign Financial Group Inc. grew its holdings in IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after acquiring an additional 23 shares during the period. Mather Group LLC. grew its stake in shares of IDEXX Laboratories by 3.9% in the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing an additional 23 shares during the last quarter. Angeles Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after purchasing an additional 25 shares in the last quarter. Parallel Advisors LLC lifted its stake in IDEXX Laboratories by 1.0% during the second quarter. Parallel Advisors LLC now owns 2,595 shares of the company’s stock valued at $1,264,000 after purchasing an additional 26 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after buying an additional 27 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.1 %

IDXX stock traded down $0.24 during midday trading on Tuesday, reaching $428.92. The company had a trading volume of 312,232 shares, compared to its average volume of 404,769. The company has a 50 day moving average of $424.02 and a two-hundred day moving average of $461.79. The company has a market capitalization of $35.12 billion, a P/E ratio of 41.36, a PEG ratio of 3.94 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter last year, the firm earned $2.53 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s 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 approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of recent research reports. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $539.63.

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.