IDEXX Laboratories, Inc. (NASDAQ:IDXX) Position Lessened by Essex Financial Services Inc.

Essex Financial Services Inc. cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,528 shares of the company’s stock after selling 92 shares during the quarter. Essex Financial Services Inc.’s holdings in IDEXX Laboratories were worth $1,403,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of 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 last quarter. Winslow Capital Management LLC raised its stake in shares of IDEXX Laboratories by 24.9% in the third quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock valued at $301,661,000 after acquiring an additional 137,621 shares during the last quarter. Barclays PLC raised its stake in shares of IDEXX Laboratories by 46.7% in the third quarter. Barclays PLC now owns 248,476 shares of the company’s stock valued at $108,651,000 after acquiring an additional 79,102 shares during the last quarter. abrdn plc raised its stake in shares of IDEXX Laboratories by 46.5% in the fourth quarter. abrdn plc now owns 246,130 shares of the company’s stock valued at $136,614,000 after acquiring an additional 78,166 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of IDEXX Laboratories by 51.3% in the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock valued at $98,353,000 after acquiring an additional 76,350 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on 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 completion of the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $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 2.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on IDXX. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a research note on Tuesday, January 30th. Barclays boosted their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group boosted their price objective 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. Finally, JPMorgan Chase & Co. boosted their price objective 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $591.50.

IDEXX Laboratories Price Performance

IDXX opened at $468.04 on Thursday. The company has a fifty day moving average price of $527.12 and a two-hundred day moving average price of $512.32. 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, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The firm has a market capitalization of $38.87 billion, a PE ratio of 46.48, a P/E/G ratio of 3.85 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results 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 net margin of 23.08% and a return on equity of 71.66%. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same quarter in the previous year, the business earned $2.05 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 11.13 earnings per share for the current 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.