Seilern Investment Management Ltd Acquires New Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Seilern Investment Management Ltd bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 273,567 shares of the company’s stock, valued at approximately $113,104,000. IDEXX Laboratories comprises approximately 6.4% of Seilern Investment Management Ltd’s portfolio, making the stock its 5th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after acquiring an additional 40,349 shares in the last quarter. Franklin Resources Inc. increased its holdings in IDEXX Laboratories by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in IDEXX Laboratories by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after purchasing an additional 2,463 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after buying an additional 316,048 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $419.26 on Monday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The firm has a market capitalization of $34.33 billion, a P/E ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company’s fifty day moving average price is $423.60 and its 200 day moving average price is $458.00.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 earnings per share. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IDXX. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Barclays decreased their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.86.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is owned by company 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.