Pittenger & Anderson Inc. Trims Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pittenger & Anderson Inc. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 27,171 shares of the company’s stock after selling 71 shares during the period. Pittenger & Anderson Inc.’s holdings in IDEXX Laboratories were worth $15,081,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Blair William & Co. IL lifted its stake in shares of IDEXX Laboratories by 0.7% during the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after buying an additional 7,812 shares during the period. Brown Advisory Inc. raised its stake in IDEXX Laboratories by 2.2% during the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock worth $507,725,000 after purchasing an additional 24,741 shares during the period. Morgan Stanley raised its stake in 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 purchasing an additional 48,095 shares during the period. Northern Trust Corp raised its stake in 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 purchasing an additional 65,891 shares during the period. Finally, Principal Financial Group Inc. raised its stake in IDEXX Laboratories by 1.4% during the third quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock worth $356,753,000 after purchasing an additional 11,315 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 1.7 %

Shares of IDEXX Laboratories stock traded up $8.10 during trading hours on Friday, hitting $497.34. The company’s stock had a trading volume of 228,158 shares, compared to its average volume of 427,809. The business has a fifty day moving average of $532.15 and a 200 day moving average of $510.35. The company has a market capitalization of $41.30 billion, a PE ratio of 48.58, a P/E/G ratio of 3.81 and a beta of 1.26. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $2.05 EPS. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the stock in a transaction on 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 in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now 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 worth $24,871,960 in the last ninety days. 2.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research note on Tuesday, January 30th. Barclays increased their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group increased their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $591.50.

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.