Retirement Systems of Alabama Has $10.17 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Retirement Systems of Alabama lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,314 shares of the company’s stock after selling 457 shares during the quarter. Retirement Systems of Alabama’s holdings in IDEXX Laboratories were worth $10,165,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in IDEXX Laboratories in the third quarter valued at approximately $25,000. Valley National Advisers Inc. lifted its stake in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories in the third quarter valued at approximately $28,000. Covestor Ltd lifted its stake in IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in IDEXX Laboratories by 108.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $475.82 on Friday. The company has a market cap of $39.52 billion, a price-to-earnings ratio of 47.25, a PEG ratio of 3.85 and a beta of 1.27. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company’s fifty day simple moving average is $525.21 and its 200 day simple moving average is $512.07. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same period in the previous year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.13 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the company’s 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 transaction, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction dated 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 directly owns 29,718 shares in the company, valued at $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated 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 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 a total of 43,524 shares of company stock worth $24,871,960 over the last ninety days. Insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. boosted 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. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $580.88.

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.