AIA Group Ltd Grows Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

AIA Group Ltd boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,728 shares of the company’s stock after buying an additional 986 shares during the period. AIA Group Ltd’s holdings in IDEXX Laboratories were worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its holdings in IDEXX Laboratories by 121,647.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after purchasing an additional 7,441,162 shares during the period. Norges Bank bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth $336,416,000. International Assets Investment Management LLC lifted its holdings in shares of IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after acquiring an additional 546,775 shares during the last quarter. Morgan Stanley lifted its holdings in shares of IDEXX Laboratories by 36.0% during the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after acquiring an additional 260,926 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of IDEXX Laboratories by 6.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock worth $1,804,428,000 after acquiring an additional 214,529 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock worth $24,871,960 over the last 90 days. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $477.79 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The company’s 50-day moving average is $539.94 and its 200 day moving average is $508.49. The stock has a market capitalization of $39.68 billion, a P/E ratio of 47.45, a P/E/G ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the previous year, the company earned $2.05 earnings per share. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on IDXX. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Barclays lifted their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group lifted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

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.