IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,145 shares of the company’s stock after selling 25 shares during the period. M&T Bank Corp’s holdings in IDEXX Laboratories were worth $3,411,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Gotham Asset Management LLC increased its position in shares of IDEXX Laboratories by 79.9% in the third quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock worth $7,620,000 after acquiring an additional 7,741 shares in the last quarter. NewEdge Wealth LLC boosted its stake in IDEXX Laboratories by 30.4% in the 3rd quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock worth $279,000 after purchasing an additional 149 shares during the period. Assenagon Asset Management S.A. grew its position in IDEXX Laboratories by 25.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock worth $24,196,000 after purchasing an additional 8,831 shares in the last quarter. Carderock Capital Management Inc. raised its stake in IDEXX Laboratories by 35.7% during the 4th quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock valued at $9,112,000 after purchasing an additional 4,315 shares during the period. Finally, Mitchell Capital Management Co. lifted its holdings in shares of IDEXX Laboratories by 1.3% in the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company’s stock valued at $2,786,000 after purchasing an additional 79 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 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 sale, the senior vice president now 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 through the SEC website. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $483.68 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $519.60 and a 200-day simple moving average of $514.34. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 46.82, a PEG ratio of 3.78 and a beta of 1.27. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same quarter last year, the firm posted $2.05 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on IDXX shares. Piper Sandler lowered 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. The Goldman Sachs Group increased their price target 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. Barclays lowered their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $580.88.

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 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.