IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 39.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 163 shares of the company’s stock after selling 106 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in IDEXX Laboratories were worth $90,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IDXX. Moneta Group Investment Advisors LLC increased its holdings in shares of IDEXX Laboratories by 121,647.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after acquiring an additional 7,441,162 shares in the last quarter. Norges Bank acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $336,416,000. International Assets Investment Management LLC increased its holdings in IDEXX Laboratories by 51,631.3% in the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after buying an additional 546,775 shares during the period. Morgan Stanley increased its holdings in IDEXX Laboratories by 36.0% in the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after buying an additional 260,926 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in IDEXX Laboratories by 6.4% in the 2nd quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock worth $1,804,428,000 after buying an additional 214,529 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 0.3 %

Shares of NASDAQ:IDXX opened at $476.35 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The firm has a market capitalization of $39.56 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The business’s 50 day moving average price is $538.02 and its 200-day moving average price is $508.81.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same quarter last year, the firm posted $2.05 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group increased their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays upped their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, Piper Sandler lowered 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $591.50.

Insider Activity

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction on 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 owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock worth $24,871,960 in the last quarter. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories 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.