California Public Employees Retirement System Sells 6,290 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

California Public Employees Retirement System trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,399 shares of the company’s stock after selling 6,290 shares during the quarter. California Public Employees Retirement System’s holdings in IDEXX Laboratories were worth $85,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. OFI Invest Asset Management bought a new position in shares of IDEXX Laboratories during the third quarter worth $25,000. Valley National Advisers Inc. boosted its position in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd bought a new position in shares of IDEXX Laboratories during the third quarter worth $28,000. Covestor Ltd boosted its position in shares of IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of IDEXX Laboratories by 108.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Up 0.1 %

Shares of IDXX stock opened at $494.26 on Thursday. The company has a current ratio of 1.57, a quick ratio of 1.17 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 firm’s fifty day moving average price is $533.74 and its two-hundred day moving average price is $510.50. The firm has a market capitalization of $41.05 billion, a P/E ratio of 49.08, a PEG ratio of 3.80 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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 company had revenue of $901.60 million for 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%. IDEXX Laboratories’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 business earned $2.05 EPS. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Barclays raised their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group raised their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale 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 IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The stock was 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 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. Insiders have sold 43,524 shares of company stock worth $24,871,960 in the last ninety days. 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.