IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 123.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,253 shares of the company’s stock after acquiring an additional 1,797 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in IDEXX Laboratories were worth $1,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in IDEXX Laboratories during the 3rd quarter worth about $25,000. Valley National Advisers Inc. lifted 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 purchasing an additional 22 shares during the period. Geo Capital Gestora de Recursos Ltd purchased a new stake in IDEXX Laboratories in the third quarter valued at approximately $28,000. Covestor Ltd increased its holdings in IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its position in IDEXX Laboratories by 108.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after buying an additional 38 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 analysts have recently commented on the stock. Barclays upped their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. 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 presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Activity

In related news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories 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 sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 over the last 90 days. 2.18% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $479.57 on Tuesday. The firm has a market cap of $39.83 billion, a PE ratio of 47.62, a P/E/G ratio of 3.67 and a beta of 1.26. The business has a 50-day moving average price of $536.30 and a 200 day moving average price of $510.27. 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 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The firm 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 business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

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.