Daiwa Securities Group Inc. Sells 5,933 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Daiwa Securities Group Inc. trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 33.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,666 shares of the company’s stock after selling 5,933 shares during the quarter. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $6,475,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of IDEXX Laboratories by 6.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,508 shares of the company’s stock worth $14,713,000 after buying an additional 1,491 shares in the last quarter. Wealth Alliance bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $234,000. DGS Capital Management LLC lifted its holdings in shares of IDEXX Laboratories by 12.2% in the 4th quarter. DGS Capital Management LLC now owns 1,064 shares of the company’s stock valued at $591,000 after acquiring an additional 116 shares during the last quarter. United Asset Strategies Inc. grew its position in IDEXX Laboratories by 1.9% in the fourth quarter. United Asset Strategies Inc. now owns 23,652 shares of the company’s stock worth $13,128,000 after acquiring an additional 444 shares in the last quarter. Finally, SVB Wealth LLC grew its position in IDEXX Laboratories by 7.9% in the fourth quarter. SVB Wealth LLC now owns 1,983 shares of the company’s stock worth $1,101,000 after acquiring an additional 146 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 0.1 %

IDXX stock opened at $477.79 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The stock has a market capitalization of $39.68 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26. The firm has a 50 day moving average of $539.94 and a 200 day moving average of $508.49.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same quarter in the prior year, the company earned $2.05 EPS. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IDXX shares. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a research report on Tuesday, January 30th. Barclays upped their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted their price objective 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

Insider Activity

In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The shares were 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 directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock valued at $24,871,960 in the last three months. 2.11% of the stock is currently owned by corporate insiders.

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.