abrdn plc Raises Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

abrdn plc increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 46.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,130 shares of the company’s stock after acquiring an additional 78,166 shares during the period. abrdn plc’s holdings in IDEXX Laboratories were worth $136,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $25,000. Valley National Advisers Inc. raised its stake in shares of IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $26,000. Geo Capital Gestora de Recursos Ltd acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $28,000. Finally, Covestor Ltd grew its position in shares of IDEXX Laboratories by 71.8% during the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded down $1.44 on Friday, hitting $476.35. 568,646 shares of the company were exchanged, compared to its average volume of 376,960. The stock 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 50-day moving average price of $538.02 and a 200 day moving average price of $508.81. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. 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 (NASDAQ:IDXX) last issued its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on IDXX. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Barclays raised their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group raised 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. Finally, William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $591.50.

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.