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

PGGM Investments trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,591 shares of the company’s stock after selling 100 shares during the quarter. PGGM Investments’ holdings in IDEXX Laboratories were worth $1,438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Valley National Advisers Inc. grew its holdings in IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares during the period. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 226.3% during the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after buying an additional 43 shares during the period. Geo Capital Gestora de Recursos Ltd purchased a new position in shares of IDEXX Laboratories during the 3rd quarter valued at approximately $28,000. Finally, Covestor Ltd grew its stake in IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 28 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 1.2 %

IDXX stock opened at $505.34 on Tuesday. The firm’s 50 day moving average price is $530.02 and its 200-day moving average price is $512.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The firm has a market cap of $41.97 billion, a PE ratio of 50.18, a PEG ratio of 3.85 and a beta of 1.26. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same period last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on IDXX. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a report on Tuesday, January 30th. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a 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 note on Wednesday, January 17th. Finally, Barclays increased their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Three investment 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, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the business’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 directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated 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 directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock worth $24,871,960 in the last three months. 2.18% of the stock is owned by company insiders.

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.