Nuveen Asset Management LLC Sells 27,529 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nuveen Asset Management LLC lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.7% in the 4th quarter, HoldingsChannel reports. The firm owned 384,486 shares of the company’s stock after selling 27,529 shares during the quarter. Nuveen Asset Management LLC’s holdings in IDEXX Laboratories were worth $158,962,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IDXX. Norges Bank purchased a new stake in IDEXX Laboratories during the fourth quarter worth $412,258,000. Flossbach Von Storch SE boosted its position in IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after purchasing an additional 464,791 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $156,412,000. William Blair Investment Management LLC raised its holdings in IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after purchasing an additional 369,471 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of IDEXX Laboratories by 221.3% during the fourth quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company’s stock valued at $182,459,000 after buying an additional 303,966 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Bank of America raised their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Barclays increased their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus lowered their price target on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $524.75.

IDEXX Laboratories Stock Up 0.5%

Shares of IDXX stock opened at $511.99 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $547.22. The firm has a market capitalization of $41.18 billion, a PE ratio of 47.98, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock’s 50-day simple moving average is $429.46 and its 200-day simple moving average is $430.94.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share 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 for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the prior year, the company earned $2.71 EPS. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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.