Flagship Harbor Advisors LLC Sells 2,073 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Flagship Harbor Advisors LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 40.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,991 shares of the company’s stock after selling 2,073 shares during the period. Flagship Harbor Advisors LLC’s holdings in IDEXX Laboratories were worth $1,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after acquiring an additional 40,349 shares in the last quarter. Franklin Resources Inc. raised its holdings in IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in IDEXX Laboratories by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after buying an additional 2,463 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after buying an additional 316,048 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’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 completion of the sale, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler reissued a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Barclays cut their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $523.86.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $435.33 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a market capitalization of $35.65 billion, a price-to-earnings ratio of 41.98, a PEG ratio of 3.63 and a beta of 1.36. The stock has a 50-day moving average of $423.74 and a 200 day moving average of $456.20. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $980.32 million. During the same period in the previous year, the business posted $2.53 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

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.