PGGM Investments Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

PGGM Investments trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,591 shares of the company’s stock after selling 100 shares during the period. PGGM Investments’ holdings in IDEXX Laboratories were worth $1,438,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in IDEXX Laboratories by 51,631.3% in the fourth quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after buying an additional 546,775 shares during the last quarter. Winslow Capital Management LLC increased its holdings in shares of IDEXX Laboratories by 24.9% in the 3rd quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock valued at $301,661,000 after acquiring an additional 137,621 shares during the last quarter. Barclays PLC increased its holdings in shares of IDEXX Laboratories by 46.7% in the 3rd quarter. Barclays PLC now owns 248,476 shares of the company’s stock valued at $108,651,000 after acquiring an additional 79,102 shares during the last quarter. abrdn plc raised its position in shares of IDEXX Laboratories by 46.5% during the 4th quarter. abrdn plc now owns 246,130 shares of the company’s stock valued at $136,614,000 after acquiring an additional 78,166 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in IDEXX Laboratories by 51.3% in the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock worth $98,353,000 after purchasing an additional 76,350 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,851,815.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.18% of the stock is owned by corporate insiders.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $505.34 on Tuesday. The firm has a market capitalization of $41.97 billion, a price-to-earnings ratio of 50.18, a price-to-earnings-growth ratio of 3.85 and a beta of 1.26. The stock’s fifty day moving average is $530.02 and its 200-day moving average is $512.17. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last released 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. The company had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. IDEXX Laboratories’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.14 EPS for the current year.

Wall Street Analyst Weigh In

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

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.