IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,408 shares of the company’s stock after acquiring an additional 120 shares during the period. Maryland State Retirement & Pension System’s holdings in IDEXX Laboratories were worth $3,557,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Patron Partners LLC increased its holdings in IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after buying an additional 20 shares during the last quarter. NewEdge Wealth LLC increased its holdings in shares of IDEXX Laboratories by 3.1% in the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares during the last quarter. Phoenix Holdings Ltd. raised its holdings in shares of IDEXX Laboratories by 2.8% during the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after purchasing an additional 21 shares during the period. BluePath Capital Management LLC raised its stake in IDEXX Laboratories by 1.8% during the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after acquiring an additional 21 shares during the period. Finally, Valley National Advisers Inc. raised its stake in IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $8.06 on Tuesday, hitting $484.93. The company had a trading volume of 208,206 shares, compared to its average volume of 439,956. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week 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 1.16. The company has a market cap of $40.05 billion, a PE ratio of 46.16, a PEG ratio of 3.78 and a beta of 1.27. The business has a 50-day simple moving average of $521.43 and a 200-day simple moving average of $513.94.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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 firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 11.05 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value 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 is available through this hyperlink. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on 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 transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value 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 have sold a total of 43,524 shares of company stock valued at $24,871,960 over the last three months. Company insiders own 2.18% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of a number of research reports. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. JPMorgan Chase & Co. raised their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, Barclays decreased their target price 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, May 2nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $580.88.

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.