Mackenzie Financial Corp Trims Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mackenzie Financial Corp reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,552 shares of the company’s stock after selling 126 shares during the quarter. Mackenzie Financial Corp’s holdings in IDEXX Laboratories were worth $24,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Moneta Group Investment Advisors LLC lifted its position in shares of IDEXX Laboratories by 121,647.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after acquiring an additional 7,441,162 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of IDEXX Laboratories by 6.4% in the second quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock valued at $1,804,428,000 after acquiring an additional 214,529 shares in the last quarter. Geode Capital Management LLC increased its stake in IDEXX Laboratories by 1.4% in the first quarter. Geode Capital Management LLC now owns 1,946,339 shares of the company’s stock valued at $971,569,000 after purchasing an additional 26,197 shares during the last quarter. Blair William & Co. IL increased its stake in IDEXX Laboratories by 0.7% in the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after purchasing an additional 7,812 shares during the last quarter. Finally, Brown Advisory Inc. increased its stake in IDEXX Laboratories by 2.2% in the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock valued at $507,725,000 after purchasing an additional 24,741 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other 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 value of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction dated 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly 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 quarter, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $478.24 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The firm has a market capitalization of $39.72 billion, a PE ratio of 47.49, a P/E/G ratio of 3.77 and a beta of 1.26. The business has a 50-day moving average of $541.86 and a two-hundred day moving average of $508.71.

IDEXX Laboratories (NASDAQ:IDXX) last posted its 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. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same quarter last year, the firm earned $2.05 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current 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.