Swiss National Bank Has $97.01 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• The Swiss National Bank reduced its stake in IDEXX Laboratories by 0.7%, selling 1,600 shares to hold approximately 231,000 shares, which are valued at about $97 million.
• IDEXX Laboratories reported a quarterly earnings per share (EPS) of $3.63, exceeding analysts' expectations of $3.28, with revenues reaching $1.11 billion, a 10.6% increase year-over-year.
• Analysts have provided positive outlooks for IDEXX, with price targets ranging from $600 to $675 and an overall consensus rating of "Moderate Buy."

Swiss National Bank decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,000 shares of the company's stock after selling 1,600 shares during the quarter. Swiss National Bank owned 0.29% of IDEXX Laboratories worth $97,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. United Capital Financial Advisors LLC boosted its position in shares of IDEXX Laboratories by 0.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock worth $1,011,000 after acquiring an additional 22 shares during the last quarter. Sage Mountain Advisors LLC boosted its position in shares of IDEXX Laboratories by 3.8% in the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock worth $267,000 after acquiring an additional 23 shares during the last quarter. PDS Planning Inc boosted its position in shares of IDEXX Laboratories by 3.9% in the first quarter. PDS Planning Inc now owns 641 shares of the company's stock worth $269,000 after acquiring an additional 24 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company's stock worth $207,000 after acquiring an additional 25 shares during the last quarter. Finally, Bigelow Investment Advisors LLC boosted its position in shares of IDEXX Laboratories by 1.9% in the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded down $9.64 during mid-day trading on Thursday, reaching $654.28. The company's stock had a trading volume of 243,204 shares, compared to its average volume of 732,469. The firm has a market cap of $52.34 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 4.22 and a beta of 1.49. The business has a 50 day moving average price of $553.29 and a 200-day moving average price of $483.95. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research report on Monday, August 4th. Leerink Partners lifted their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Piper Sandler reaffirmed a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $644.67.

Insider Activity at IDEXX Laboratories

In related news, EVP Sharon E. Underberg sold 5,450 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president owned 6,156 shares of the company's stock, valued at $4,011,249.60. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the transaction, the chief executive officer owned 83,311 shares in the company, valued at $52,650,885.78. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,770 shares of company stock valued at $33,796,794. Company insiders own 0.98% 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.