Sigma Planning Corp Lowers Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sigma Planning Corp cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130 shares of the company’s stock after selling 306 shares during the quarter. Sigma Planning Corp’s holdings in IDEXX Laboratories were worth $627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. grew its holdings 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 buying an additional 22 shares in the last quarter. OFI Invest Asset Management purchased a new stake in IDEXX Laboratories in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares during the period. Geo Capital Gestora de Recursos Ltd acquired a new position in IDEXX Laboratories during the third quarter worth approximately $28,000. Finally, Covestor Ltd increased its position in IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 28 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

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

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $494.26 on Thursday. The company has a market capitalization of $41.05 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 3.80 and a beta of 1.26. The firm has a fifty day simple moving average of $533.74 and a 200-day simple moving average of $510.50. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

IDEXX Laboratories Company 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.