Bender Robert & Associates Sells 38 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bender Robert & Associates decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 422 shares of the company’s stock after selling 38 shares during the quarter. Bender Robert & Associates’ holdings in IDEXX Laboratories were worth $234,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Patron Partners LLC raised its holdings in IDEXX Laboratories by 2.7% in the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after acquiring an additional 20 shares during the last quarter. NewEdge Wealth LLC raised its stake in shares of IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after purchasing an additional 20 shares during the last quarter. Phoenix Holdings Ltd. lifted its holdings in shares of IDEXX Laboratories by 2.8% during the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after purchasing an additional 21 shares in the last quarter. BluePath Capital Management LLC boosted its position 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 valued at $663,000 after buying an additional 21 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in shares of IDEXX Laboratories by 24.1% during the fourth quarter. Harbour Investments Inc. now owns 108 shares of the company’s stock valued at $44,000 after buying an additional 21 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group upped their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler lowered 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. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $591.50.

IDEXX Laboratories Stock Performance

IDXX traded down $0.45 during midday trading on Thursday, reaching $477.79. The company had a trading volume of 396,748 shares, compared to its average volume of 427,323. The business has a 50-day moving average of $541.86 and a two-hundred day moving average of $508.71. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market cap of $39.68 billion, a P/E ratio of 47.49, a P/E/G ratio of 3.77 and a beta of 1.26.

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. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period in the previous year, the company posted $2.05 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 transaction, the senior vice president now directly 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 is available through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $16,939,557.18. 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 three months. Company insiders own 2.11% of the company’s stock.

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.