The Manufacturers Life Insurance Company Sells 8,435 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

The Manufacturers Life Insurance Company decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,040 shares of the company's stock after selling 8,435 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of IDEXX Laboratories worth $33,505,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IDXX. Insight Wealth Strategies LLC grew its stake in IDEXX Laboratories by 230.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock worth $4,174,000 after purchasing an additional 7,041 shares during the period. Sax Wealth Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 76.3% during the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock valued at $590,000 after purchasing an additional 617 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock worth $3,199,000 after purchasing an additional 800 shares in the last quarter. Paragon Capital Management Inc. grew its stake in shares of IDEXX Laboratories by 25.7% in the 4th quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock worth $1,579,000 after buying an additional 782 shares during the last quarter. Finally, Manitou Investment Management Ltd. raised its stake in IDEXX Laboratories by 491.0% during the fourth quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company's stock valued at $21,582,000 after buying an additional 43,369 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ IDXX traded up $3.17 during trading hours on Monday, hitting $475.07. 1,208,499 shares of the company's stock traded hands, compared to its average volume of 644,174. 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 52 week low of $356.14 and a 52 week high of $548.88. The firm has a market capitalization of $38.50 billion, a P/E ratio of 44.52, a P/E/G ratio of 3.41 and a beta of 1.50. The business's fifty day moving average price is $419.26 and its two-hundred day moving average price is $428.06.

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

Insider Buying and Selling at IDEXX Laboratories

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America raised their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Morgan Stanley boosted their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday. Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Four 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.