First Citizens Bank & Trust Co. Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

First Citizens Bank & Trust Co. lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,120 shares of the company’s stock after selling 595 shares during the period. First Citizens Bank & Trust Co.’s holdings in IDEXX Laboratories were worth $5,838,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after acquiring an additional 40,349 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after acquiring an additional 34,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of IDEXX Laboratories by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after acquiring an additional 2,463 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after acquiring an additional 527,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays decreased their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $523.86.

IDEXX Laboratories Trading Up 0.7 %

Shares of IDEXX Laboratories stock opened at $435.33 on Friday. The firm has a market capitalization of $35.65 billion, a PE ratio of 41.98, a P/E/G ratio of 3.63 and a beta of 1.36. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The firm’s 50-day moving average price is $423.74 and its 200 day moving average price is $456.35. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the company posted $2.53 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.11% of the company’s stock.

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.