Welch & Forbes LLC Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Welch & Forbes LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 171,311 shares of the company’s stock after selling 1,118 shares during the period. IDEXX Laboratories comprises 1.4% of Welch & Forbes LLC’s investment portfolio, making the stock its 19th largest position. Welch & Forbes LLC’s holdings in IDEXX Laboratories were worth $95,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Gotham Asset Management LLC increased its stake in shares of IDEXX Laboratories by 79.9% during the third quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock valued at $7,620,000 after buying an additional 7,741 shares during the period. NewEdge Wealth LLC grew its stake in IDEXX Laboratories by 30.4% in the third quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock worth $279,000 after purchasing an additional 149 shares during the period. Assenagon Asset Management S.A. grew its stake in IDEXX Laboratories by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock worth $24,196,000 after purchasing an additional 8,831 shares during the period. Carderock Capital Management Inc. grew its stake in IDEXX Laboratories by 35.7% in the fourth quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock worth $9,112,000 after purchasing an additional 4,315 shares during the period. Finally, Mitchell Capital Management Co. grew its stake in IDEXX Laboratories by 1.3% in the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company’s stock worth $2,786,000 after purchasing an additional 79 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded down $3.73 during midday trading on Monday, reaching $476.87. 298,172 shares of the company’s stock traded hands, compared to its average volume of 442,893. The company has a market cap of $39.38 billion, a price-to-earnings ratio of 46.16, a P/E/G ratio of 3.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The stock has a 50 day moving average of $521.43 and a 200 day moving average of $513.94.

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 firm 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 63.66% and a net margin of 23.26%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Barclays reduced their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group boosted 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, Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $580.88.

Insider Activity

In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 over the last ninety days. 2.18% of the stock is currently owned by corporate insiders.

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.