Wellington Management Group LLP Has $80.77 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wellington Management Group LLP lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 161.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,369 shares of the company's stock after purchasing an additional 120,558 shares during the quarter. Wellington Management Group LLP owned 0.24% of IDEXX Laboratories worth $80,773,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth $29,000. Rialto Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $30,000. Colonial Trust Co SC lifted its position in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $38,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after buying an additional 81 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 0.6%

Shares of IDXX stock traded down $3.03 during mid-day trading on Friday, reaching $512.52. 1,221,827 shares of the stock traded hands, compared to its average volume of 652,599. The stock's fifty day simple moving average is $449.80 and its two-hundred day simple moving average is $437.32. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.60. The company has a market cap of $41.22 billion, a price-to-earnings ratio of 48.03, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IDXX. Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Bank of America upped their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Stifel Nicolaus upped their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Four equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $536.00.

Insider Activity

In other news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the sale, the director now directly owns 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.