IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Holdings Lessened by Trust Asset Management LLC

Trust Asset Management LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 949 shares of the company’s stock after selling 24 shares during the quarter. Trust Asset Management LLC’s holdings in IDEXX Laboratories were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories in the first quarter worth approximately $26,000. Colonial Trust Co SC increased its holdings in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after buying an additional 39 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company’s stock worth $35,000 after buying an additional 30 shares during the last quarter. Bank of Jackson Hole Trust increased its holdings in IDEXX Laboratories by 328.6% in the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company’s stock worth $39,000 after buying an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock worth $40,000 after buying an additional 81 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IDXX shares. Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. BTIG Research increased their price target on IDEXX Laboratories from $545.00 to $785.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price target on the stock. Morgan Stanley set a $722.00 price target on IDEXX Laboratories and gave the company an “overweight” rating in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.67.

Insider Transactions at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 7,143 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $630.43, for a total value of $4,503,161.49. Following the completion of the transaction, the executive vice president directly owned 18,007 shares of the company’s stock, valued at $11,352,153.01. This trade represents a 28.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the completion of the transaction, the chief executive officer directly owned 83,311 shares of the company’s stock, valued at approximately $52,650,885.78. This trade represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock valued at $29,457,738 in the last ninety days. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Trading Down 0.9%

Shares of IDEXX Laboratories stock opened at $652.11 on Tuesday. The company’s fifty day simple moving average is $547.98 and its 200-day simple moving average is $481.51. The company has a market cap of $52.17 billion, a price-to-earnings ratio of 54.30, a PEG ratio of 4.25 and a beta of 1.49. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. IDEXX Laboratories’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current 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.