Bridgewater Associates LP Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bridgewater Associates LP trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 60.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,749 shares of the company’s stock after selling 19,677 shares during the period. Bridgewater Associates LP’s holdings in IDEXX Laboratories were worth $6,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its stake in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after purchasing an additional 96 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $20,418,000. Oppenheimer Asset Management Inc. grew its position in shares of IDEXX Laboratories by 13.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after buying an additional 1,453 shares during the last quarter. National Pension Service lifted its position in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after acquiring an additional 12,647 shares during the last quarter. Finally, EFG Asset Management Americas Corp. boosted its stake in IDEXX Laboratories by 45.3% in the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after acquiring an additional 3,966 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

IDEXX Laboratories Stock Down 0.0 %

Shares of NASDAQ:IDXX opened at $421.75 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The firm’s 50-day simple moving average is $451.91 and its 200-day simple moving average is $478.11. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 3.68 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.53 EPS. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analyst Ratings Changes

IDXX has been the topic of a number of research analyst reports. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Piper Sandler reiterated 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. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Barclays decreased their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

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.