Malaga Cove Capital LLC Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Malaga Cove Capital LLC increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 928 shares of the company’s stock after buying an additional 249 shares during the quarter. Malaga Cove Capital LLC’s holdings in IDEXX Laboratories were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IDXX. International Assets Investment Management LLC boosted its position in shares of 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 worth $304,075,000 after acquiring an additional 546,775 shares during the last quarter. Winslow Capital Management LLC boosted its holdings in shares of IDEXX Laboratories by 24.9% in 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 grew its stake in shares of IDEXX Laboratories by 46.7% during the 3rd quarter. Barclays PLC now owns 248,476 shares of the company’s stock valued at $108,651,000 after buying an additional 79,102 shares during the period. abrdn plc increased its holdings in shares of IDEXX Laboratories by 46.5% during the 4th 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. raised its position in shares of IDEXX Laboratories by 51.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock worth $98,353,000 after buying an additional 76,350 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 1.0 %

IDEXX Laboratories stock traded up $4.78 during midday trading on Friday, hitting $480.60. 547,954 shares of the stock were exchanged, compared to its average volume of 509,434. 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 0.40, a current ratio of 1.57 and a quick ratio of 1.17. The firm has a market cap of $39.69 billion, a P/E ratio of 46.52, a P/E/G ratio of 3.78 and a beta of 1.27. The company has a 50 day moving average price of $523.29 and a two-hundred day moving average price of $512.43.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same period in the previous year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 directly owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IDXX shares. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. The Goldman Sachs Group raised their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays decreased their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $580.88.

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.