Mackenzie Financial Corp Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mackenzie Financial Corp trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,552 shares of the company’s stock after selling 126 shares during the quarter. Mackenzie Financial Corp owned approximately 0.05% of IDEXX Laboratories worth $24,174,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its holdings in 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 valued at $3,038,192,000 after buying an additional 7,441,162 shares in the last quarter. Alliancebernstein L.P. grew its holdings in IDEXX Laboratories by 6.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock valued at $1,804,428,000 after buying an additional 214,529 shares in the last quarter. Geode Capital Management LLC grew its holdings in IDEXX Laboratories by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 1,946,339 shares of the company’s stock valued at $971,569,000 after buying an additional 26,197 shares in the last quarter. Blair William & Co. IL grew its holdings in IDEXX Laboratories by 0.7% in the 3rd 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 in the last quarter. Finally, Brown Advisory Inc. grew its holdings in IDEXX Laboratories by 2.2% in the 3rd quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock valued at $507,725,000 after buying an additional 24,741 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

IDXX opened at $478.24 on Thursday. The stock’s 50-day moving average price is $541.86 and its 200 day moving average price is $508.71. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The firm has a market cap of $39.72 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 3.77 and a beta of 1.26.

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

Analyst Ratings Changes

Several analysts have issued reports on IDXX shares. The Goldman Sachs Group upped their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Finally, Piper Sandler cut 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

Insider Buying and Selling

In related news, SVP George Fennell sold 8,198 shares of the 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 transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,524 shares of company stock valued at $24,871,960. Corporate insiders own 2.11% of the company’s stock.

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.