FineMark National Bank & Trust Sells 224 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

FineMark National Bank & Trust lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 556 shares of the company’s stock after selling 224 shares during the quarter. FineMark National Bank & Trust’s holdings in IDEXX Laboratories were worth $309,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of IDEXX Laboratories by 2.1% during the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after acquiring an additional 28,475 shares during the last quarter. Blair William & Co. IL increased its position in shares of IDEXX Laboratories by 0.7% during the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after acquiring an additional 7,812 shares during the last quarter. Morgan Stanley increased its position in shares of IDEXX Laboratories by 4.7% during the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after acquiring an additional 48,095 shares during the last quarter. Norges Bank purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $512,190,000. Finally, Northern Trust Corp increased its position in shares of IDEXX Laboratories by 7.7% during the third quarter. Northern Trust Corp now owns 919,191 shares of the company’s stock valued at $401,935,000 after acquiring an additional 65,891 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley decreased their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a research report on Tuesday, January 30th. Barclays decreased their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $580.38.

Insider Transactions at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $516.50 on Friday. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The business has a fifty day moving average price of $509.96 and a 200-day moving average price of $523.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. The firm has a market capitalization of $42.66 billion, a P/E ratio of 50.00, a PEG ratio of 4.21 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm had revenue of $964.10 million during the quarter, compared to analyst estimates of $965.43 million. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.03 EPS for the current year.

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.