Washington Trust Advisors Inc. Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Washington Trust Advisors Inc. decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84 shares of the company’s stock after selling 20 shares during the period. Washington Trust Advisors Inc.’s holdings in IDEXX Laboratories were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Procyon Advisors LLC grew its position in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Procyon Advisors LLC now owns 1,412 shares of the company’s stock valued at $784,000 after purchasing an additional 58 shares in the last quarter. Schechter Investment Advisors LLC bought a new stake in IDEXX Laboratories during the fourth quarter valued at $256,000. Assenagon Asset Management S.A. boosted its stake in IDEXX Laboratories by 25.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock valued at $24,196,000 after buying an additional 8,831 shares during the period. CVA Family Office LLC bought a new stake in IDEXX Laboratories during the fourth quarter valued at $108,000. Finally, Insight Folios Inc bought a new stake in IDEXX Laboratories during the fourth quarter valued at $222,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 0.2 %

Shares of IDXX traded up $1.09 on Thursday, reaching $540.66. The stock had a trading volume of 88,560 shares, compared to its average volume of 424,965. The firm has a market capitalization of $44.92 billion, a price-to-earnings ratio of 53.64, a price-to-earnings-growth ratio of 2.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The company has a 50-day simple moving average of $547.76 and a 200-day simple moving average of $501.71. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million during 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IDXX shares. The Goldman Sachs Group lifted their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Piper Sandler lowered 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. Barclays boosted their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Finally, William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Friday, January 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction dated 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 directly owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is owned by insiders.

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.