MML Investors Services LLC Sells 2,429 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

MML Investors Services LLC decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 16.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,371 shares of the company's stock after selling 2,429 shares during the quarter. MML Investors Services LLC's holdings in IDEXX Laboratories were worth $6,250,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in IDEXX Laboratories by 91.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,975 shares of the company's stock worth $4,860,000 after buying an additional 4,772 shares during the period. Great Valley Advisor Group Inc. purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at $238,000. Outlook Wealth Advisors LLC boosted its position in shares of IDEXX Laboratories by 18.9% in the second quarter. Outlook Wealth Advisors LLC now owns 643 shares of the company's stock worth $313,000 after buying an additional 102 shares during the period. Blue Trust Inc. raised its position in IDEXX Laboratories by 136.2% during the second quarter. Blue Trust Inc. now owns 744 shares of the company's stock valued at $402,000 after buying an additional 429 shares during the period. Finally, Sumitomo Life Insurance Co. raised its position in IDEXX Laboratories by 2.7% during the second quarter. Sumitomo Life Insurance Co. now owns 4,725 shares of the company's stock valued at $2,302,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded down $5.08 on Friday, hitting $432.10. 330,820 shares of the company were exchanged, compared to its average volume of 512,194. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company's 50 day moving average price is $440.46 and its two-hundred day moving average price is $472.39. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The firm has a market capitalization of $35.38 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 3.99 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analysts' expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. IDEXX Laboratories's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.53 earnings per share. Research analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Insider Activity

In other 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 value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Thursday, October 10th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 target price for the company. Barclays dropped their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Finally, Piper Sandler restated a "neutral" rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus price target of $539.63.

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.