Kornitzer Capital Management Inc. KS Sells 2,000 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kornitzer Capital Management Inc. KS lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,630 shares of the company’s stock after selling 2,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in IDEXX Laboratories were worth $12,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of IDXX. Moneta Group Investment Advisors LLC raised its stake in shares of IDEXX Laboratories by 121,647.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock worth $3,038,192,000 after purchasing an additional 7,441,162 shares during the last quarter. Norges Bank purchased a new stake in IDEXX Laboratories during the fourth quarter valued at $336,416,000. International Assets Investment Management LLC lifted its holdings in IDEXX Laboratories by 51,631.3% in the fourth quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after acquiring an additional 546,775 shares during the period. Morgan Stanley lifted its holdings in IDEXX Laboratories by 36.0% in the fourth quarter. Morgan Stanley now owns 986,232 shares of the company’s stock valued at $402,344,000 after acquiring an additional 260,926 shares during the period. Finally, Alliancebernstein L.P. boosted its position in IDEXX Laboratories by 6.4% in the second quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock worth $1,804,428,000 after purchasing an additional 214,529 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock worth $24,871,960 in the last three months. 2.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IDXX shares. Barclays upped their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. Finally, The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded down $1.44 during midday trading on Friday, hitting $476.35. The stock had a trading volume of 568,646 shares, compared to its average volume of 376,960. The firm’s fifty day moving average is $538.02 and its two-hundred day moving average is $508.81. The company has a market capitalization of $39.56 billion, a PE ratio of 47.30, a P/E/G ratio of 3.68 and a beta of 1.26. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. 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 (NASDAQ:IDXX) last posted its quarterly earnings results 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. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period in the prior year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current 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.