Norway Savings Bank Buys 188 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Norway Savings Bank lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,635 shares of the company’s stock after acquiring an additional 188 shares during the period. Norway Savings Bank’s holdings in IDEXX Laboratories were worth $1,826,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Avalon Trust Co bought a new stake in shares of IDEXX Laboratories during the 1st quarter worth $25,000. Altshuler Shaham Ltd purchased a new position in IDEXX Laboratories in the 4th quarter worth $26,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories in the 1st quarter worth $28,000. Resurgent Financial Advisors LLC purchased a new position in IDEXX Laboratories in the 4th quarter worth $31,000. Finally, Pacifica Partners Inc. purchased a new position in IDEXX Laboratories in the 1st quarter worth $33,000. 86.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on IDXX. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $525.00 to $500.00 and set a “hold” rating on the stock in a research report on Friday. StockNews.com began coverage on shares of IDEXX Laboratories in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $590.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, August 3rd. Finally, Atlantic Securities cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 price objective on the stock. in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $571.67.

Insider Activity at IDEXX Laboratories

In related news, EVP Michael Lane sold 16,027 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $510.00, for a total transaction of $8,173,770.00. Following the transaction, the executive vice president now owns 4,034 shares in the company, valued at $2,057,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP James F. Polewaczyk sold 22,909 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $510.56, for a total transaction of $11,696,419.04. Following the sale, the executive vice president now owns 10,038 shares of the company’s stock, valued at $5,125,001.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Lane sold 16,027 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $510.00, for a total transaction of $8,173,770.00. Following the sale, the executive vice president now directly owns 4,034 shares in the company, valued at approximately $2,057,340. The disclosure for this sale can be found here. Insiders have sold 52,360 shares of company stock worth $26,743,411 over the last 90 days. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Trading Down 2.5 %

Shares of NASDAQ IDXX traded down $11.39 during midday trading on Friday, hitting $450.69. 770,079 shares of the company traded hands, compared to its average volume of 452,822. IDEXX Laboratories, Inc. has a 12-month low of $317.06 and a 12-month high of $564.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.89 and a current ratio of 1.33. The stock has a 50-day moving average price of $510.75 and a 200 day moving average price of $490.61. The firm has a market cap of $37.41 billion, a P/E ratio of 47.84, a P/E/G ratio of 2.66 and a beta of 1.20.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.24. IDEXX Laboratories had a net margin of 22.52% and a return on equity of 104.84%. The company had revenue of $943.63 million for the quarter, compared to analysts’ expectations of $927.84 million. As a group, analysts expect that IDEXX Laboratories, Inc. will post 9.82 earnings per share for the current year.

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 worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.