Panagora Asset Management Inc. Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Panagora Asset Management Inc. grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,523 shares of the company’s stock after acquiring an additional 41 shares during the period. Panagora Asset Management Inc.’s holdings in IDEXX Laboratories were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IDXX. International Assets Investment Management LLC lifted its position in shares of IDEXX Laboratories by 51,631.3% during the fourth 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 in the last quarter. Winslow Capital Management LLC raised its position in shares of IDEXX Laboratories by 24.9% in the third quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock worth $301,661,000 after buying an additional 137,621 shares in the last quarter. Barclays PLC raised its position in shares of IDEXX Laboratories by 46.7% in the third quarter. Barclays PLC now owns 248,476 shares of the company’s stock worth $108,651,000 after buying an additional 79,102 shares in the last quarter. abrdn plc raised its position in shares of IDEXX Laboratories by 46.5% in the fourth quarter. abrdn plc now owns 246,130 shares of the company’s stock worth $136,614,000 after buying an additional 78,166 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of IDEXX Laboratories by 51.3% in the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock worth $98,353,000 after buying an additional 76,350 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IDXX. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. 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 research note on Tuesday, January 30th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Morgan Stanley reduced their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $580.38.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $516.10 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a 50-day simple moving average of $510.22 and a two-hundred day simple moving average of $522.04. The firm has a market capitalization of $42.62 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 4.23 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business had revenue of $964.10 million during the quarter, compared to analyst estimates of $965.43 million. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 EPS for the current fiscal year.

Insider Activity

In other news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares in the company, valued at $87,068.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.