Swedbank AB Lowers Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Swedbank AB reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.0% during the 4th quarter, HoldingsChannel reports. The firm owned 36,452 shares of the company’s stock after selling 2,322 shares during the period. Swedbank AB’s holdings in IDEXX Laboratories were worth $15,071,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of IDEXX Laboratories by 11.5% during the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock valued at $3,199,000 after buying an additional 800 shares during the period. Forsta AP Fonden increased its position in IDEXX Laboratories by 0.3% during the 4th quarter. Forsta AP Fonden now owns 32,700 shares of the company’s stock valued at $13,519,000 after purchasing an additional 100 shares during the period. R Squared Ltd bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $161,000. Perigon Wealth Management LLC lifted its position in shares of IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares during the period. Finally, Berkshire Bank boosted its stake in shares of IDEXX Laboratories by 5.4% during the fourth quarter. Berkshire Bank now owns 1,553 shares of the company’s stock valued at $642,000 after purchasing an additional 80 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on IDXX shares. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $517.29.

IDEXX Laboratories Stock Performance

IDXX opened at $422.05 on Friday. The firm’s 50-day moving average price is $424.02 and its 200-day moving average price is $454.59. The company has a market cap of $34.56 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 3.60 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39.

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

Insider Activity at IDEXX Laboratories

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

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.