Retirement Systems of Alabama Cuts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Retirement Systems of Alabama reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,880 shares of the company’s stock after selling 339 shares during the period. Retirement Systems of Alabama’s holdings in IDEXX Laboratories were worth $9,033,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings 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 purchasing an additional 527,460 shares in the last quarter. Clearbridge Investments LLC increased its holdings in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after buying an additional 308,493 shares in the last quarter. Vontobel Holding Ltd. raised its position in IDEXX Laboratories by 3,325.0% in the 3rd 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 last quarter. American Century Companies Inc. lifted its stake in IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after acquiring an additional 177,226 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in shares of IDEXX Laboratories by 4,193.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock valued at $62,601,000 after acquiring an additional 125,498 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The stock was 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. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IDXX shares. Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Piper Sandler reissued a “neutral” rating and set a $435.00 price target (down 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, December 2nd. JPMorgan Chase & Co. reduced their price objective 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, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $539.63.

IDEXX Laboratories Stock Down 0.4 %

IDXX opened at $430.47 on Tuesday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. 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 cap of $35.25 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37. The firm’s fifty day moving average is $438.71 and its 200 day moving average is $470.89.

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

About IDEXX Laboratories

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.