IDEXX Laboratories (NASDAQ:IDXX) Stock Price Down 3.9% Following Insider Selling

IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) shares traded down 3.9% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $466.11 and last traded at $467.32. 123,449 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 448,577 shares. The stock had previously closed at $486.25.

Specifically, Director Jonathan W. Ayers sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $489.23, for a total transaction of $4,892,300.00. Following the completion of the sale, the director now directly owns 137,039 shares of the company’s stock, valued at $67,043,589.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Michael Lane sold 1,000 shares of IDEXX Laboratories stock in a transaction on Friday, May 5th. The stock was sold at an average price of $484.00, for a total transaction of $484,000.00. Following the completion of the sale, the executive vice president now owns 4,022 shares of the company’s stock, valued at $1,946,648. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan W. Ayers sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $489.23, for a total value of $4,892,300.00. Following the completion of the transaction, the director now directly owns 137,039 shares in the company, valued at $67,043,589.97. The disclosure for this sale can be found here. In the last three months, insiders sold 13,187 shares of company stock valued at $6,402,047. 2.11% of the stock is owned by insiders.

Analysts Set New Price Targets

IDXX has been the topic of a number of research analyst reports. StockNews.com started coverage on IDEXX Laboratories in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $543.00 to $590.00 and gave the stock an “overweight” rating in a research report on Thursday, March 23rd. Barclays upped their target price on IDEXX Laboratories from $582.00 to $590.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Atlantic Securities increased their price objective on IDEXX Laboratories from $470.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 7th. Finally, The Goldman Sachs Group upped their price target on IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a research note on Wednesday, January 25th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $527.86.

IDEXX Laboratories Trading Down 5.2 %

The firm has a market cap of $38.22 billion, a P/E ratio of 55.49, a P/E/G ratio of 2.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 0.71. The business’s 50-day moving average is $483.35 and its two-hundred day moving average is $461.50.

Hedge Funds Weigh In On IDEXX Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avalon Trust Co bought a new stake in IDEXX Laboratories during the first quarter worth about $25,000. Altshuler Shaham Ltd bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $28,000. Resurgent Financial Advisors LLC bought a new position in IDEXX Laboratories in the fourth quarter valued at approximately $31,000. Finally, Pacifica Partners Inc. acquired a new position in IDEXX Laboratories during the first quarter valued at approximately $33,000. 87.90% of the stock is owned by institutional investors and hedge funds.

About IDEXX Laboratories

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy, and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water Quality Products (Water), Livestock, Poultry, and Dairy (LPD), and Other.