Woodline Partners LP Lowers Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Woodline Partners LP decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,929 shares of the company's stock after selling 5,990 shares during the quarter. Woodline Partners LP's holdings in IDEXX Laboratories were worth $13,201,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IDXX. Ritholtz Wealth Management raised its holdings in IDEXX Laboratories by 43.8% in the fourth quarter. Ritholtz Wealth Management now owns 956 shares of the company's stock worth $395,000 after purchasing an additional 291 shares in the last quarter. Merit Financial Group LLC bought a new position in IDEXX Laboratories in the fourth quarter worth $315,000. Atomi Financial Group Inc. raised its holdings in IDEXX Laboratories by 28.4% in the fourth quarter. Atomi Financial Group Inc. now owns 864 shares of the company's stock worth $357,000 after purchasing an additional 191 shares in the last quarter. Perfromance Wealth Partners LLC raised its holdings in IDEXX Laboratories by 2.8% in the fourth quarter. Perfromance Wealth Partners LLC now owns 3,626 shares of the company's stock worth $1,499,000 after purchasing an additional 100 shares in the last quarter. Finally, Bourne Lent Asset Management Inc. raised its holdings in IDEXX Laboratories by 1.8% in the fourth quarter. Bourne Lent Asset Management Inc. now owns 39,517 shares of the company's stock worth $16,338,000 after purchasing an additional 695 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

IDXX has been the subject of several analyst reports. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday. Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Stifel Nicolaus raised their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a report on Monday, May 19th. Finally, Morgan Stanley raised their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $536.00.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $3.26 during mid-day trading 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. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.60. The firm's fifty day moving average price is $440.69 and its two-hundred day moving average price is $434.46. 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 stock has a market cap of $40.34 billion, a P/E 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 for the quarter, topping 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 business had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same quarter in the previous year, the firm earned $2.71 EPS. IDEXX Laboratories's revenue was up 3.6% on a year-over-year basis. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, 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 is accessible through this hyperlink. Insiders own 0.98% of the company's stock.

About IDEXX Laboratories

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.