Strs Ohio Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Strs Ohio trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.7% during the 4th quarter, Holdings Channel reports. The fund owned 15,500 shares of the company’s stock after selling 4,058 shares during the period. Strs Ohio’s holdings in IDEXX Laboratories were worth $8,603,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. Valley National Advisers Inc. lifted its position in IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $25,000. Venturi Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 226.3% in the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after acquiring an additional 43 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in IDEXX Laboratories during the fourth quarter worth approximately $26,000. Finally, Geo Capital Gestora de Recursos Ltd purchased a new stake in IDEXX Laboratories during the third quarter valued at approximately $28,000. 87.84% of the stock is currently owned by institutional investors.

Insider Activity at IDEXX Laboratories

In other news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated 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 transaction, the chief financial officer now owns 29,718 shares of the company’s stock, 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 valued at $24,871,960 in the last ninety days. Corporate insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IDXX shares. The Goldman Sachs Group boosted their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. 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 research report on Tuesday, January 30th. Barclays raised their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $478.24 on Thursday. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock’s fifty day moving average price is $541.86 and its 200-day moving average price is $508.71. The firm has a market cap of $39.72 billion, a P/E ratio of 47.49, a P/E/G ratio of 3.77 and a beta of 1.26. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly 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. The business had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

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.