Man Group plc Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Man Group plc reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 52.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,794 shares of the company's stock after selling 45,244 shares during the period. Man Group plc's holdings in IDEXX Laboratories were worth $16,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IDXX. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $412,258,000. Flossbach Von Storch SE lifted its stake in shares of IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock valued at $195,696,000 after purchasing an additional 464,791 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $156,412,000. William Blair Investment Management LLC lifted its stake in shares of IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after purchasing an additional 369,471 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of IDEXX Laboratories by 221.3% in the 4th quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company's stock valued at $182,459,000 after purchasing an additional 303,966 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

IDXX opened at $518.10 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $545.43. The firm has a market capitalization of $41.67 billion, a PE ratio of 48.56, a PEG 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. The firm's 50-day moving average price is $431.28 and its 200 day moving average price is $431.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released 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 net margin of 22.78% and a return on equity of 55.82%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same period last year, the company posted $2.71 EPS. The business's revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays boosted their target price 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. Bank of America upped their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $524.75.

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.

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