Sanibel Captiva Trust Company Inc. Has $429,000 Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sanibel Captiva Trust Company Inc. cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,037 shares of the company’s stock after selling 51 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in IDEXX Laboratories were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories in the 4th quarter valued at $31,000. Cranbrook Wealth Management LLC increased its stake in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares during the period. Sax Wealth Advisors LLC raised its position in IDEXX Laboratories by 76.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock worth $590,000 after purchasing an additional 617 shares in the last quarter. Merit Financial Group LLC bought a new position in IDEXX Laboratories during the fourth quarter worth about $315,000. Finally, Avanza Fonder AB acquired a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $2,688,000. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IDXX shares. Barclays cut their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $523.86.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $419.26 on Monday. The firm has a 50 day simple moving average of $423.60 and a 200 day simple moving average of $458.00. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The firm has a market cap of $34.33 billion, a P/E ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share 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 return on equity of 55.42% and a net margin of 22.53%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 earnings per share. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Insider Activity

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

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.