Flputnam Investment Management Co. Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Flputnam Investment Management Co. trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,047 shares of the company’s stock after selling 93 shares during the period. Flputnam Investment Management Co.’s holdings in IDEXX Laboratories were worth $10,017,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IDXX. OFI Invest Asset Management bought a new position in IDEXX Laboratories in the 3rd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. bought a new position in IDEXX Laboratories in the 3rd quarter worth $26,000. Valley National Advisers Inc. raised its holdings in IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the period. Altshuler Shaham Ltd bought a new position in IDEXX Laboratories in the 4th quarter worth $26,000. Finally, Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories in the 3rd quarter worth $28,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on IDXX shares. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a report on Tuesday, January 30th. The Goldman Sachs Group lifted their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Stock Performance

Shares of IDXX traded down $1.22 during trading hours on Tuesday, reaching $490.07. 29,282 shares of the company traded hands, compared to its average volume of 418,832. The stock has a market capitalization of $40.70 billion, a P/E ratio of 48.79, a P/E/G ratio of 3.83 and a beta of 1.26. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The business has a fifty day moving average price of $545.29 and a 200-day moving average price of $508.55.

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

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value 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 $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction dated Wednesday, February 7th. The shares were 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 directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s 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 transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,524 shares of company stock valued at $24,871,960. 2.18% of the stock is owned by insiders.

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.