M&T Bank Corp Sells 25 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

M&T Bank Corp decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,145 shares of the company’s stock after selling 25 shares during the period. M&T Bank Corp’s holdings in IDEXX Laboratories were worth $3,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blair William & Co. IL increased its holdings in IDEXX Laboratories by 0.7% during the 3rd quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock worth $524,700,000 after purchasing an additional 7,812 shares in the last quarter. Morgan Stanley boosted 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 worth $465,482,000 after buying an additional 48,095 shares during the period. Northern Trust Corp grew its holdings 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 worth $401,935,000 after buying an additional 65,891 shares in the last quarter. Principal Financial Group Inc. lifted its stake in IDEXX Laboratories by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock valued at $356,753,000 after acquiring an additional 11,315 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in IDEXX Laboratories by 8.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock worth $350,373,000 after acquiring an additional 65,760 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.11% of the stock is currently owned by insiders.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $483.68 on Wednesday. The company’s 50-day moving average is $519.60 and its 200-day moving average is $514.34. 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 $39.95 billion, a PE ratio of 46.82, a PEG ratio of 3.78 and a beta of 1.27. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period last year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.05 EPS for the current year.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research reports. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a research report on Tuesday, January 30th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, Barclays cut their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently 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.