Adage Capital Partners GP L.L.C. Has $11.98 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Adage Capital Partners GP L.L.C. decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,967 shares of the company's stock after selling 4,978 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in IDEXX Laboratories were worth $11,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories in the 4th quarter worth $29,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new stake in IDEXX Laboratories during the 4th quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $38,000. Finally, Crews Bank & Trust purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Morgan Stanley dropped their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Barclays raised their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average price target of $523.75.

IDEXX Laboratories Trading Up 9.0 %

NASDAQ IDXX traded up $38.73 on Thursday, hitting $471.38. 1,397,181 shares of the stock were exchanged, compared to its average volume of 640,990. The company's 50-day moving average price is $418.87 and its two-hundred day moving average price is $428.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $548.88. The company has a market capitalization of $38.20 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 3.41 and a beta of 1.50.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share 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 business had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the previous year, the company posted $2.71 earnings per share. IDEXX Laboratories's revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.