IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Decreased by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 50.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,599 shares of the company’s stock after selling 25,234 shares during the quarter. Russell Investments Group Ltd.’s holdings in IDEXX Laboratories were worth $13,672,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IDXX. OFI Invest Asset Management bought a new stake in shares of IDEXX Laboratories during the 3rd quarter worth about $25,000. Valley National Advisers Inc. raised 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 purchasing an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd acquired a new stake in IDEXX Laboratories in the third quarter worth approximately $28,000. Covestor Ltd boosted its stake in IDEXX Laboratories by 71.8% during the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of IDEXX Laboratories by 108.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on IDXX shares. Barclays cut their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday. The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $580.88.

IDEXX Laboratories Trading Up 1.0 %

IDEXX Laboratories stock opened at $480.60 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 1.57. The firm has a market capitalization of $39.69 billion, a price-to-earnings ratio of 46.52, a P/E/G ratio of 3.74 and a beta of 1.27. The company has a 50 day moving average price of $523.29 and a 200 day moving average price of $512.43.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same period in the previous year, the firm earned $2.05 earnings per share. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts forecast that IDEXX Laboratories, Inc. will post 11.06 EPS for the current year.

Insider Activity at IDEXX Laboratories

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

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.