OLD National Bancorp IN Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

OLD National Bancorp IN cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,369 shares of the company’s stock after selling 371 shares during the quarter. OLD National Bancorp IN’s holdings in IDEXX Laboratories were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IDXX. Valley National Advisers Inc. grew its stake in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares in the last quarter. OFI Invest Asset Management bought a new stake in IDEXX Laboratories during the third quarter worth approximately $25,000. Venturi Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 43 shares in the last quarter. Geo Capital Gestora de Recursos Ltd bought a new position in shares of IDEXX Laboratories in the third quarter valued at $28,000. Finally, Covestor Ltd raised its stake in IDEXX Laboratories by 71.8% during the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a report on Tuesday, January 30th. Finally, Barclays upped their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Trading Up 3.0 %

IDXX opened at $493.80 on Wednesday. The stock has a market capitalization of $41.01 billion, a P/E ratio of 49.04, a P/E/G ratio of 3.69 and a beta of 1.26. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The firm’s fifty day simple moving average is $535.07 and its 200 day simple moving average is $510.61. 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 issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.12 by $0.20. The firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 EPS. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,524 shares of company stock valued at $24,871,960. Company insiders own 2.18% of the company’s stock.

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.