Cortland Associates Inc. MO Sells 87 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cortland Associates Inc. MO reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,826 shares of the company’s stock after selling 87 shares during the period. IDEXX Laboratories accounts for 0.3% of Cortland Associates Inc. MO’s portfolio, making the stock its 28th biggest position. Cortland Associates Inc. MO’s holdings in IDEXX Laboratories were worth $2,409,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased 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 worth $2,669,890,000 after acquiring an additional 527,460 shares during the last quarter. 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. Clearbridge Investments LLC raised its position in shares of IDEXX Laboratories by 696.0% during the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after acquiring an additional 308,493 shares in the last quarter. Seilern Investment Management Ltd acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $113,104,000. Finally, Vontobel Holding Ltd. increased its position in IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after buying an additional 213,731 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the firm’s 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 sale, the director now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IDXX. Piper Sandler restated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus dropped 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. Morgan Stanley decreased their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Barclays reduced 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $418.75 on Thursday. The company’s 50 day simple moving average is $423.92 and its 200 day simple moving average is $455.05. The stock has a market capitalization of $34.29 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

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