Chicago Capital LLC Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Chicago Capital LLC lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,184 shares of the company’s stock after selling 7,397 shares during the period. Chicago Capital LLC owned 0.11% of IDEXX Laboratories worth $35,632,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Algert Global LLC boosted its holdings in IDEXX Laboratories by 70.0% in the 2nd quarter. Algert Global LLC now owns 709 shares of the company’s stock valued at $345,000 after purchasing an additional 292 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in IDEXX Laboratories by 14.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock valued at $1,031,000 after purchasing an additional 260 shares during the last quarter. Cetera Investment Advisers boosted its holdings in IDEXX Laboratories by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 20,290 shares of the company’s stock valued at $9,885,000 after purchasing an additional 161 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at about $1,363,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in IDEXX Laboratories by 8.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 361 shares of the company’s stock valued at $182,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.18% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $422.05 on Monday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm’s 50 day moving average price is $424.12 and its 200 day moving average price is $453.85. The company has a market cap of $34.56 billion, a P/E ratio of 40.70, a PEG ratio of 3.64 and a beta of 1.37. 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 (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same period in the prior year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the topic of several recent analyst reports. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Piper Sandler restated a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Barclays decreased their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

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.