Means Investment CO. Inc. Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Means Investment CO. Inc. decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,121 shares of the company’s stock after selling 1,213 shares during the quarter. Means Investment CO. Inc.’s holdings in IDEXX Laboratories were worth $891,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IDXX. Allworth Financial LP increased its position in shares of IDEXX Laboratories by 61.2% in the fourth quarter. Allworth Financial LP now owns 1,507 shares of the company’s stock valued at $649,000 after acquiring an additional 572 shares during the period. Truist Financial Corp increased its position in shares of IDEXX Laboratories by 13.9% in the fourth quarter. Truist Financial Corp now owns 27,784 shares of the company’s stock valued at $11,487,000 after acquiring an additional 3,382 shares during the period. D.A. Davidson & CO. increased its position in shares of IDEXX Laboratories by 2.8% during the fourth quarter. D.A. Davidson & CO. now owns 1,674 shares of the company’s stock valued at $692,000 after buying an additional 45 shares during the period. Venturi Wealth Management LLC increased its position in shares of IDEXX Laboratories by 465.3% during the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the company’s stock valued at $236,000 after buying an additional 470 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the transaction, the director now directly owns 1,801 shares of the company’s stock, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Down 0.1%

NASDAQ:IDXX opened at $519.85 on Friday. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $530.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. The company’s 50-day simple moving average is $484.15 and its 200 day simple moving average is $447.01. The firm has a market capitalization of $41.81 billion, a P/E ratio of 48.05, a PEG ratio of 3.80 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter in the previous year, the firm posted $2.71 earnings per share. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IDXX shares. Stifel Nicolaus boosted their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a research report on Monday, May 19th. Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Leerink Partners boosted their price target on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, June 11th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $546.00.

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.