LGT Capital Partners LTD. Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

LGT Capital Partners LTD. trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,769 shares of the company’s stock after selling 13,350 shares during the quarter. IDEXX Laboratories makes up approximately 3.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 11th largest position. LGT Capital Partners LTD. owned approximately 0.23% of IDEXX Laboratories worth $107,551,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IDXX. Gotham Asset Management LLC boosted its holdings in IDEXX Laboratories by 79.9% in the 3rd quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock valued at $7,620,000 after purchasing an additional 7,741 shares during the last quarter. NewEdge Wealth LLC raised its holdings in IDEXX Laboratories by 30.4% in the 3rd quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock valued at $279,000 after buying an additional 149 shares during the period. Assenagon Asset Management S.A. lifted its position in IDEXX Laboratories by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock valued at $24,196,000 after buying an additional 8,831 shares during the last quarter. Mitchell Capital Management Co. boosted its stake in IDEXX Laboratories by 1.3% during the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company’s stock worth $2,786,000 after buying an additional 79 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of IDEXX Laboratories during the fourth quarter valued at about $37,291,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $539.93 on Friday. The stock has a market capitalization of $44.86 billion, a price-to-earnings ratio of 53.62, a PEG ratio of 2.96 and a beta of 1.27. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a 50-day simple moving average of $548.25 and a 200-day simple moving average of $501.97. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The firm had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction 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 approximately $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,524 shares of company stock worth $24,871,960. Company insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. The Goldman Sachs Group raised their price objective 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. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a research note on Tuesday, January 30th. Finally, Barclays raised their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

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.