Ninety One UK Ltd Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ninety One UK Ltd increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 69.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,827 shares of the company’s stock after acquiring an additional 14,247 shares during the quarter. Ninety One UK Ltd’s holdings in IDEXX Laboratories were worth $19,331,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Panagora Asset Management Inc. lifted its position in IDEXX Laboratories by 50.3% during the first quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock valued at $1,768,000 after buying an additional 1,081 shares during the period. Raymond James Trust N.A. lifted its position in IDEXX Laboratories by 26.8% during the first quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock valued at $888,000 after buying an additional 343 shares during the period. Cetera Investment Advisers lifted its position in IDEXX Laboratories by 77.1% during the first quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock valued at $2,010,000 after buying an additional 1,600 shares during the period. Moors & Cabot Inc. lifted its position in IDEXX Laboratories by 3.0% during the first quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock valued at $961,000 after buying an additional 52 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in IDEXX Laboratories by 15.6% during the first quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock valued at $543,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on IDXX shares. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group lifted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, Barclays lifted their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $591.50.

IDEXX Laboratories Stock Down 0.1 %

NASDAQ IDXX opened at $477.79 on Friday. The stock’s 50 day moving average is $539.94 and its 200 day moving average is $508.49. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock has a market cap of $39.68 billion, a PE ratio of 47.45, a P/E/G ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same period in the previous year, the firm earned $2.05 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 in the last ninety days. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories 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.