Spinnaker Trust Sells 2,315 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Spinnaker Trust reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,822 shares of the company’s stock after selling 2,315 shares during the quarter. Spinnaker Trust’s holdings in IDEXX Laboratories were worth $3,787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in IDXX. Patron Partners LLC lifted its holdings in IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after buying an additional 20 shares during the period. NewEdge Wealth LLC lifted its stake in shares of IDEXX Laboratories by 3.1% in the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after purchasing an additional 20 shares during the period. Phoenix Holdings Ltd. boosted its position in shares of IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after purchasing an additional 21 shares during the last quarter. BluePath Capital Management LLC grew its stake in shares of IDEXX Laboratories by 1.8% during the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after purchasing an additional 21 shares during the period. Finally, Valley National Advisers Inc. grew its stake in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 2.1 %

NASDAQ IDXX traded up $10.06 on Friday, reaching $499.30. The company had a trading volume of 529,811 shares, compared to its average volume of 431,856. The company’s fifty day moving average is $531.02 and its 200-day moving average is $510.75. The firm has a market capitalization of $41.47 billion, a price-to-earnings ratio of 49.58, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 earnings per share. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the business’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 transaction of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 in the last ninety days. 2.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on IDXX. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. 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. The Goldman Sachs Group increased their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price target 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. Finally, Barclays raised their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $591.50.

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.