Manning & Napier Group LLC Lowers Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Manning & Napier Group LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,983 shares of the company’s stock after selling 4,012 shares during the quarter. IDEXX Laboratories accounts for approximately 1.3% of Manning & Napier Group LLC’s holdings, making the stock its 20th biggest position. Manning & Napier Group LLC owned approximately 0.24% of IDEXX Laboratories worth $112,666,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Gray Wealth Management Inc. increased its holdings in IDEXX Laboratories by 3.3% in the 2nd quarter. Gray Wealth Management Inc. now owns 619 shares of the company’s stock worth $311,000 after buying an additional 20 shares in the last quarter. Patron Partners LLC increased its holdings in IDEXX Laboratories by 2.7% in the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after buying an additional 20 shares in the last quarter. American Trust increased its holdings in IDEXX Laboratories by 5.1% in the 2nd quarter. American Trust now owns 431 shares of the company’s stock worth $216,000 after buying an additional 21 shares in the last quarter. Phoenix Holdings Ltd. increased its holdings in IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after buying an additional 21 shares in the last quarter. Finally, BluePath Capital Management LLC increased its holdings in IDEXX Laboratories by 1.8% in the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on IDXX. Barclays lifted their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Friday, January 5th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded up $0.36 during trading hours on Friday, reaching $539.93. The company’s stock had a trading volume of 290,111 shares, compared to its average volume of 397,320. The firm’s 50-day moving average price is $548.54 and its 200-day moving average price is $502.23. 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 1 year low of $372.50 and a 1 year high of $583.39. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 2.96 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The company 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 firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 29,718 shares in the company, 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.

IDEXX Laboratories 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.