Seilern Investment Management Ltd Sells 7,618 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Seilern Investment Management Ltd cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,949 shares of the company's stock after selling 7,618 shares during the period. IDEXX Laboratories accounts for about 7.3% of Seilern Investment Management Ltd's portfolio, making the stock its 4th largest holding. Seilern Investment Management Ltd owned approximately 0.33% of IDEXX Laboratories worth $111,685,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IDXX. Hurley Capital LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $30,000. Colonial Trust Co SC increased its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $38,000. Finally, Itau Unibanco Holding S.A. raised its position in IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of research reports. Morgan Stanley lifted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Piper Sandler lifted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Stifel Nicolaus boosted their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday, May 19th. Finally, Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $536.00.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director now owns 1,801 shares in the company, valued at approximately $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Down 1.2%

Shares of IDXX traded down $6.31 during midday trading on Monday, hitting $518.60. The company had a trading volume of 328,103 shares, compared to its average volume of 650,450. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73. The firm has a market capitalization of $41.71 billion, a P/E ratio of 48.60, a P/E/G ratio of 3.41 and a beta of 1.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The company's 50-day simple moving average is $460.16 and its 200-day simple moving average is $441.03.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 EPS. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.