Valley National Advisers Inc. Grows Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Valley National Advisers Inc. grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 84.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48 shares of the company’s stock after buying an additional 22 shares during the period. Valley National Advisers Inc.’s holdings in IDEXX Laboratories were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 121,647.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock worth $3,038,192,000 after acquiring an additional 7,441,162 shares during the last quarter. Norges Bank bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $336,416,000. International Assets Investment Management LLC lifted its holdings in shares of IDEXX Laboratories by 51,631.3% in the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after acquiring an additional 546,775 shares during the last quarter. Morgan Stanley lifted its holdings in shares of IDEXX Laboratories by 36.0% in the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after acquiring an additional 260,926 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of IDEXX Laboratories by 6.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock worth $1,804,428,000 after acquiring an additional 214,529 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity

In other news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were 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 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 SEC, which is accessible through this hyperlink. In other news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 in the company, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 in the last 90 days. 2.18% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Down 3.0 %

NASDAQ:IDXX opened at $504.14 on Thursday. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The firm’s 50-day moving average price is $547.97 and its 200-day moving average price is $506.75. The company has a market capitalization of $41.87 billion, a PE ratio of 50.06, a P/E/G ratio of 2.82 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The firm 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%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 EPS. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IDXX. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a report on Tuesday, January 30th. The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. upped 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target 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.