Manning & Napier Group LLC Sells 4,012 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Manning & Napier Group LLC decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,983 shares of the company's stock after selling 4,012 shares during the quarter. IDEXX Laboratories makes up approximately 1.3% of Manning & Napier Group LLC's portfolio, making the stock its 20th biggest position. Manning & Napier Group LLC owned approximately 0.24% of IDEXX Laboratories worth $112,666,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Gotham Asset Management LLC lifted its stake in IDEXX Laboratories by 79.9% during the third quarter. Gotham Asset Management LLC now owns 17,427 shares of the company's stock worth $7,620,000 after purchasing an additional 7,741 shares during the last quarter. NewEdge Wealth LLC lifted its stake in IDEXX Laboratories by 30.4% in the third quarter. NewEdge Wealth LLC now owns 639 shares of the company's stock valued at $279,000 after buying an additional 149 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in IDEXX Laboratories by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company's stock valued at $24,196,000 after buying an additional 8,831 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in IDEXX Laboratories by 1.3% in the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company's stock valued at $2,786,000 after buying an additional 79 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $37,291,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded up $0.36 during trading hours on Friday, reaching $539.93. 290,111 shares of the company traded hands, compared to its average volume of 397,320. The stock has a fifty day simple moving average of $548.54 and a 200 day simple moving average of $502.23. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock has a market capitalization of $44.86 billion, a PE ratio of 53.62, a price-to-earnings-growth ratio of 2.96 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business had revenue of $901.60 million for the quarter, compared to analysts' expectations of $891.88 million. During the same period last year, the company earned $2.05 earnings per share. The company's quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IDXX. William Blair reiterated an "outperform" rating on shares of IDEXX Laboratories in a research note on Friday, January 5th. The Goldman Sachs Group boosted their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a "buy" rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an "overweight" rating in a research note on Tuesday, February 6th. BNP Paribas initiated coverage on IDEXX Laboratories in a research note on Thursday, December 7th. They issued an "outperform" rating and a $602.00 price objective for the company. Finally, Piper Sandler cut IDEXX Laboratories from an "overweight" rating to a "neutral" rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $591.50.

Insider Activity

In other news, SVP George Fennell sold 8,198 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now directly owns 6,712 shares of the company's stock, valued at approximately $3,851,815.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brian P. Mckeon sold 23,326 shares of the company's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares of the company's stock, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP George Fennell sold 8,198 shares of the company's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares of the company's stock, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 in the last ninety days. Company insiders own 2.11% of the company's stock.

IDEXX Laboratories 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.