OLD National Bancorp IN Cuts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

OLD National Bancorp IN decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,369 shares of the company’s stock after selling 371 shares during the period. OLD National Bancorp IN’s holdings in IDEXX Laboratories were worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI purchased a new position in IDEXX Laboratories during the 4th quarter valued at about $288,000. Handelsbanken Fonder AB increased its position in IDEXX Laboratories by 6.9% during the 4th quarter. Handelsbanken Fonder AB now owns 115,778 shares of the company’s stock valued at $64,263,000 after purchasing an additional 7,436 shares during the period. CWM LLC boosted its holdings in shares of IDEXX Laboratories by 8.3% in the 4th quarter. CWM LLC now owns 3,490 shares of the company’s stock valued at $1,937,000 after buying an additional 266 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of IDEXX Laboratories by 4.2% in the 4th quarter. Signaturefd LLC now owns 1,248 shares of the company’s stock valued at $693,000 after buying an additional 50 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of IDEXX Laboratories by 22.2% in the 4th quarter. Lindbrook Capital LLC now owns 303 shares of the company’s stock valued at $168,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brian P. Mckeon sold 23,326 shares of the business’s 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 completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 transaction of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDXX. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Barclays raised their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler cut shares of 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. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $493.80 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The firm has a market cap of $41.01 billion, a price-to-earnings ratio of 49.04, a price-to-earnings-growth ratio of 3.69 and a beta of 1.26. The company has a 50 day moving average price of $535.07 and a 200-day moving average price of $510.61. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.20. The firm had revenue of $901.60 million during 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% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS 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.