IDEXX Laboratories, Inc. (NASDAQ:IDXX) Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,399 shares of the company’s stock after selling 6,290 shares during the quarter. California Public Employees Retirement System owned 0.18% of IDEXX Laboratories worth $85,144,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL lifted its stake in IDEXX Laboratories by 0.7% during the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after buying an additional 7,812 shares in the last quarter. Brown Advisory Inc. lifted its stake in IDEXX Laboratories by 2.2% during the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock valued at $507,725,000 after buying an additional 24,741 shares in the last quarter. Morgan Stanley lifted its stake in IDEXX Laboratories by 4.7% during the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after buying an additional 48,095 shares in the last quarter. Northern Trust Corp lifted its stake in IDEXX Laboratories by 7.7% during the third quarter. Northern Trust Corp now owns 919,191 shares of the company’s stock valued at $401,935,000 after buying an additional 65,891 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in IDEXX Laboratories by 1.4% during the third quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock valued at $356,753,000 after buying an additional 11,315 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 over the last 90 days. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Up 0.1 %

NASDAQ:IDXX opened at $494.26 on Thursday. The stock’s 50 day moving average price is $533.74 and its 200 day moving average price is $510.50. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a market capitalization of $41.05 billion, a P/E ratio of 49.08, a P/E/G ratio of 3.80 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same quarter in the prior year, the company posted $2.05 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IDXX shares. Barclays upped their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock 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 increased their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

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.