IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Lessened by USS Investment Management Ltd

USS Investment Management Ltd lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,214 shares of the company's stock after selling 3,175 shares during the period. USS Investment Management Ltd's holdings in IDEXX Laboratories were worth $6,706,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IDXX. Ritholtz Wealth Management raised its position in IDEXX Laboratories by 43.8% in the fourth quarter. Ritholtz Wealth Management now owns 956 shares of the company's stock valued at $395,000 after purchasing an additional 291 shares during the period. Merit Financial Group LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $315,000. Atomi Financial Group Inc. increased its position in shares of IDEXX Laboratories by 28.4% during the fourth quarter. Atomi Financial Group Inc. now owns 864 shares of the company's stock worth $357,000 after acquiring an additional 191 shares during the last quarter. Perfromance Wealth Partners LLC increased its position in shares of IDEXX Laboratories by 2.8% during the fourth quarter. Perfromance Wealth Partners LLC now owns 3,626 shares of the company's stock worth $1,499,000 after acquiring an additional 100 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. boosted its stake in IDEXX Laboratories by 1.8% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 39,517 shares of the company's stock valued at $16,338,000 after acquiring an additional 695 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ IDXX traded down $3.26 during trading hours on Friday, reaching $501.57. The company's stock had a trading volume of 443,606 shares, compared to its average volume of 651,454. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $440.69 and a 200 day simple moving average of $434.53. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $530.60. The stock has a market cap of $40.34 billion, a PE ratio of 47.01, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. During the same quarter last year, the company posted $2.71 earnings per share. IDEXX Laboratories's revenue was up 3.6% on a year-over-year basis. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Morgan Stanley increased their price objective on shares of 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 increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Stifel Nicolaus increased their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $536.00.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was 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 directly owns 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company's stock.

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.