IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,593 shares of the company's stock after selling 3,903 shares during the quarter. Fred Alger Management LLC's holdings in IDEXX Laboratories were worth $5,620,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $29,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories during the fourth quarter valued at $30,000. Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories in the fourth quarter valued at $31,000. Colonial Trust Co SC raised its position in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after acquiring an additional 39 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $38,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

IDXX traded down $0.40 on Tuesday, hitting $509.13. 558,434 shares of the company's stock were exchanged, compared to its average volume of 650,673. The firm has a 50-day moving average price of $424.76 and a 200-day moving average price of $429.40. The stock has a market cap of $40.95 billion, a price-to-earnings ratio of 47.72, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. IDEXX Laboratories's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a report on Monday, April 14th. Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Barclays lifted their price target 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 boosted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Bank of America increased their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $524.75.

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.