Spinnaker Trust Sells 2,315 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Spinnaker Trust cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,822 shares of the company’s stock after selling 2,315 shares during the quarter. Spinnaker Trust’s holdings in IDEXX Laboratories were worth $3,787,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IDXX. Alesco Advisors LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at approximately $278,000. Kovack Advisors Inc. bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $1,457,000. Bryn Mawr Capital Management LLC boosted its position in shares of IDEXX Laboratories by 0.8% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 10,678 shares of the company’s stock valued at $5,927,000 after buying an additional 80 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in shares of IDEXX Laboratories by 6.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,565 shares of the company’s stock valued at $1,424,000 after buying an additional 150 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in IDEXX Laboratories by 2.0% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 171,290 shares of the company’s stock worth $95,074,000 after buying an additional 3,433 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity

In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was 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 directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the company’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 completion of the transaction, 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 valued at $24,871,960 in the last ninety days. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded up $10.06 on Friday, hitting $499.30. 529,811 shares of the company’s stock were exchanged, compared to its average volume of 431,856. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a 50-day simple moving average of $531.02 and a 200-day simple moving average of $510.75. 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 stock has a market capitalization of $41.47 billion, a PE ratio of 49.58, a PEG ratio of 3.81 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $891.88 million. During the same period last year, the firm earned $2.05 EPS. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Barclays upped their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a report on Tuesday, January 30th. The Goldman Sachs Group lifted their target price 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. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $591.50.

About IDEXX Laboratories

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.