Syon Capital LLC Acquires New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Syon Capital LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 716 shares of the company’s stock, valued at approximately $397,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in IDEXX Laboratories by 51,631.3% in the fourth quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after acquiring an additional 546,775 shares during the period. Winslow Capital Management LLC increased its position in shares of IDEXX Laboratories by 24.9% during the 3rd quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock valued at $301,661,000 after purchasing an additional 137,621 shares during the last quarter. Barclays PLC lifted its stake in shares of IDEXX Laboratories by 46.7% in the 3rd quarter. Barclays PLC now owns 248,476 shares of the company’s stock worth $108,651,000 after purchasing an additional 79,102 shares during the period. abrdn plc boosted its holdings in shares of IDEXX Laboratories by 46.5% in the fourth quarter. abrdn plc now owns 246,130 shares of the company’s stock worth $136,614,000 after buying an additional 78,166 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in IDEXX Laboratories by 51.3% during the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock valued at $98,353,000 after buying an additional 76,350 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their price target 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. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. 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. The Goldman Sachs Group lifted their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Buying and Selling

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’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 sale, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $499.30 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The company’s fifty day moving average price is $531.02 and its 200-day moving average price is $510.75. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a market capitalization of $41.47 billion, a PE ratio of 49.58, a price-to-earnings-growth ratio of 3.77 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 analysts’ consensus estimates of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

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.