Aristotle Atlantic Partners LLC Sells 2,000 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Aristotle Atlantic Partners LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.7% in the 4th quarter, Holdings Channel reports. The fund owned 10,712 shares of the company’s stock after selling 2,000 shares during the quarter. Aristotle Atlantic Partners LLC’s holdings in IDEXX Laboratories were worth $4,429,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock worth $948,279,000 after purchasing an additional 37,734 shares during the period. Franklin Resources Inc. boosted its holdings in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after buying an additional 34,305 shares during the period. Invesco Ltd. boosted its holdings in IDEXX Laboratories by 6.8% in the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after buying an additional 74,324 shares during the period. Norges Bank purchased a new position in IDEXX Laboratories in the 4th quarter valued at approximately $412,258,000. Finally, Northern Trust Corp raised its holdings in IDEXX Laboratories by 18.6% during the 4th quarter. Northern Trust Corp now owns 912,874 shares of the company’s stock valued at $377,419,000 after acquiring an additional 143,369 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.1 %

Shares of IDXX opened at $471.90 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88. The company has a market capitalization of $38.24 billion, a P/E ratio of 44.23, a P/E/G ratio of 3.41 and a beta of 1.50. The firm’s 50 day simple moving average is $419.26 and its 200 day simple moving average is $428.52.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the business earned $2.71 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IDXX has been the subject of several recent research reports. Piper Sandler lifted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley decreased their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Finally, Bank of America raised their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $523.75.

Insider Activity

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

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.