Forte Capital LLC ADV Sells 68 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Forte Capital LLC ADV trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,065 shares of the company’s stock after selling 68 shares during the quarter. Forte Capital LLC ADV’s holdings in IDEXX Laboratories were worth $591,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IDXX. Patron Partners LLC boosted its holdings in IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after acquiring an additional 20 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of IDEXX Laboratories by 3.1% during the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares in the last quarter. Phoenix Holdings Ltd. raised its holdings in IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after acquiring an additional 21 shares during the last quarter. BluePath Capital Management LLC lifted its position in IDEXX Laboratories by 1.8% in the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after acquiring an additional 21 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX traded up $4.78 during midday trading on Friday, reaching $480.60. The company had a trading volume of 547,954 shares, compared to its average volume of 509,434. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company has a market cap of $39.69 billion, a P/E ratio of 46.52, a P/E/G ratio of 3.74 and a beta of 1.27. The business has a 50-day moving average of $525.21 and a two-hundred day moving average of $512.07.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.06 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

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. In related news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were 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 directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock valued at $24,871,960 over the last 90 days. Company insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IDXX. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a report on Tuesday, January 30th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. The Goldman Sachs Group lifted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $580.88.

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.