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

Fifth Third Bancorp reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 55.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,004 shares of the company’s stock after selling 3,708 shares during the period. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $1,242,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. Bennett Selby Investments LP purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $203,000. Exchange Traded Concepts LLC lifted its stake in IDEXX Laboratories by 11.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,799 shares of the company’s stock valued at $744,000 after purchasing an additional 187 shares during the last quarter. Manitou Investment Management Ltd. grew its stake in shares of IDEXX Laboratories by 491.0% during the 4th quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company’s stock worth $21,582,000 after acquiring an additional 43,369 shares during the period. Janney Montgomery Scott LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $16,562,000. Finally, SG Americas Securities LLC raised its stake in IDEXX Laboratories by 4.3% in the 4th quarter. SG Americas Securities LLC now owns 40,082 shares of the company’s stock valued at $16,572,000 after acquiring an additional 1,659 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IDXX shares. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Barclays lowered their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $523.86.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 2.3 %

Shares of IDEXX Laboratories stock opened at $417.86 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The firm has a market cap of $34.22 billion, a PE ratio of 40.30, a PEG ratio of 3.63 and a beta of 1.36. The company has a 50 day simple moving average of $423.89 and a two-hundred day simple moving average of $455.58.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.53 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

IDEXX Laboratories Company Profile

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.