NFJ Investment Group LLC Lowers Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

NFJ Investment Group LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,061 shares of the company’s stock after selling 1,750 shares during the quarter. NFJ Investment Group LLC’s holdings in IDEXX Laboratories were worth $14,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDXX. IHT Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 32.9% during the third quarter. IHT Wealth Management LLC now owns 666 shares of the company’s stock valued at $335,000 after acquiring an additional 165 shares in the last quarter. Janus Henderson Group PLC grew its position in IDEXX Laboratories by 0.4% during the 3rd quarter. Janus Henderson Group PLC now owns 11,834 shares of the company’s stock valued at $5,978,000 after purchasing an additional 53 shares during the last quarter. Centiva Capital LP bought a new stake in IDEXX Laboratories during the 3rd quarter valued at about $211,000. Cinctive Capital Management LP bought a new stake in IDEXX Laboratories during the 3rd quarter valued at about $1,677,000. Finally, ClearAlpha Technologies LP purchased a new position in IDEXX Laboratories in the third quarter worth about $295,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of recent analyst reports. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday. Stifel Nicolaus decreased their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $546.56.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $2.47 on Tuesday, hitting $433.24. 113,627 shares of the company traded hands, compared to its average volume of 504,818. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The business has a 50-day simple moving average of $451.91 and a 200 day simple moving average of $477.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock has a market capitalization of $35.48 billion, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 3.68 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.53 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

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.