Zurcher Kantonalbank Zurich Cantonalbank Buys 1,491 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,508 shares of the company’s stock after buying an additional 1,491 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IDEXX Laboratories were worth $14,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealth Alliance bought a new stake in shares of IDEXX Laboratories during the fourth quarter worth $234,000. DGS Capital Management LLC grew its stake in shares of IDEXX Laboratories by 12.2% during the fourth quarter. DGS Capital Management LLC now owns 1,064 shares of the company’s stock worth $591,000 after buying an additional 116 shares during the last quarter. United Asset Strategies Inc. grew its stake in shares of IDEXX Laboratories by 1.9% during the fourth quarter. United Asset Strategies Inc. now owns 23,652 shares of the company’s stock worth $13,128,000 after buying an additional 444 shares during the last quarter. SVB Wealth LLC grew its stake in shares of IDEXX Laboratories by 7.9% during the fourth quarter. SVB Wealth LLC now owns 1,983 shares of the company’s stock worth $1,101,000 after buying an additional 146 shares during the last quarter. Finally, Carnegie Capital Asset Management LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth $223,000. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. 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 note on Wednesday, January 17th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. 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 report on Tuesday, January 30th. Finally, Barclays upped their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $591.50.

Insiders Place Their Bets

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 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 of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on 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 directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 0.1 %

IDXX opened at $477.79 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The firm has a market capitalization of $39.68 billion, a PE ratio of 47.45, a P/E/G ratio of 3.68 and a beta of 1.26. The company’s 50-day moving average is $539.94 and its 200 day moving average is $508.49.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping 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 company 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 business posted $2.05 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

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.