Fifth Third Bancorp Sells 3,708 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fifth Third Bancorp trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXXFree Report) by 55.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,004 shares of the company’s stock after selling 3,708 shares during the quarter. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $1,242,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of IDEXX Laboratories in the third quarter valued at about $37,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $31,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IDXX. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Barclays reduced their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $523.86.

Check Out Our Latest Report on IDEXX Laboratories

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $417.86 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The firm has a market capitalization of $34.22 billion, a P/E ratio of 40.30, a P/E/G ratio of 3.63 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $423.89 and a two-hundred day simple moving average of $455.58.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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