Stock Yards Bank & Trust Co. Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Stock Yards Bank & Trust Co. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 123.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,253 shares of the company’s stock after purchasing an additional 1,797 shares during the period. Stock Yards Bank & Trust Co.’s holdings in IDEXX Laboratories were worth $1,806,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IDXX. OFI Invest Asset Management purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Valley National Advisers Inc. increased its holdings in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd bought a new position in shares of IDEXX Laboratories during the third quarter valued at $28,000. Covestor Ltd lifted its holdings in shares of IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of IDEXX Laboratories by 108.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock valued at $32,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.7 %

IDEXX Laboratories stock opened at $479.57 on Tuesday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The firm has a market capitalization of $39.83 billion, a price-to-earnings ratio of 47.62, a P/E/G ratio of 3.67 and a beta of 1.26. The firm has a 50 day moving average of $536.30 and a 200 day moving average of $510.27. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same period in the prior year, the company posted $2.05 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IDXX shares. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Barclays lifted their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $591.50.

Insiders Place Their Bets

In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were 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 directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.18% of the company’s stock.

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.