Investment Management Corp of Ontario Sells 8,592 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Investment Management Corp of Ontario trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 76.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,690 shares of the company’s stock after selling 8,592 shares during the period. Investment Management Corp of Ontario’s holdings in IDEXX Laboratories were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC raised its position in shares of IDEXX Laboratories by 0.4% in the 3rd quarter. Janus Henderson Group PLC now owns 11,834 shares of the company’s stock valued at $5,978,000 after buying an additional 53 shares in the last quarter. Centiva Capital LP acquired a new position in IDEXX Laboratories during the third quarter valued at approximately $211,000. Cinctive Capital Management LP bought a new stake in IDEXX Laboratories during the third quarter worth $1,677,000. ClearAlpha Technologies LP acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at $295,000. Finally, Benjamin Edwards Inc. increased its stake in shares of IDEXX Laboratories by 661.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,880 shares of the company’s stock valued at $950,000 after purchasing an additional 1,633 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Activity 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 stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Trading Down 1.6 %

Shares of IDXX stock opened at $427.49 on Friday. The stock has a 50-day moving average of $445.99 and a 200-day moving average of $475.13. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a market cap of $35.01 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 3.95 and a beta of 1.37. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

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

Analysts Set New Price Targets

Several analysts recently weighed in on IDXX shares. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Barclays reduced their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $546.56.

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.