Norway Savings Bank Sells 76 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Norway Savings Bank decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,649 shares of the company’s stock after selling 76 shares during the period. Norway Savings Bank’s holdings in IDEXX Laboratories were worth $1,970,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Patron Partners LLC raised its holdings in shares of IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after purchasing an additional 20 shares during the last quarter. NewEdge Wealth LLC lifted its position in IDEXX Laboratories by 3.1% during the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after buying an additional 20 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 11.9% during the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after buying an additional 20 shares during the last quarter. Phoenix Holdings Ltd. grew its holdings in shares of IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after acquiring an additional 21 shares in the last quarter. Finally, BluePath Capital Management LLC raised its holdings in IDEXX Laboratories by 1.8% during the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The sale was disclosed in a filing with the SEC, which is available through this link. 2.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IDXX. Barclays decreased their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Three investment 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 currently has an average rating of “Moderate Buy” and an average price target of $586.63.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $487.20 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company’s 50 day moving average price is $501.58 and its two-hundred day moving average price is $526.94. The firm has a market cap of $40.24 billion, a PE ratio of 47.16, a PEG ratio of 4.03 and a beta of 1.33. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating 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 the consensus estimate of $965.43 million. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.03 earnings per share 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.