OLD National Bancorp IN Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

OLD National Bancorp IN decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 552 shares of the company’s stock after selling 48 shares during the quarter. OLD National Bancorp IN’s holdings in IDEXX Laboratories were worth $228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Baron Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 4.4% in the fourth quarter. Baron Wealth Management LLC now owns 964 shares of the company’s stock valued at $399,000 after purchasing an additional 41 shares during the period. New England Research & Management Inc. grew its holdings in shares of IDEXX Laboratories by 51.8% in the fourth quarter. New England Research & Management Inc. now owns 2,095 shares of the company’s stock valued at $866,000 after purchasing an additional 715 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of IDEXX Laboratories by 11.5% in the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock valued at $3,199,000 after purchasing an additional 800 shares during the period. Forsta AP Fonden boosted its stake in IDEXX Laboratories by 0.3% during the fourth quarter. Forsta AP Fonden now owns 32,700 shares of the company’s stock worth $13,519,000 after buying an additional 100 shares during the period. Finally, R Squared Ltd purchased a new position in IDEXX Laboratories during the fourth quarter worth about $161,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Down 0.5 %

IDXX stock opened at $422.05 on Monday. 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 $34.56 billion, a P/E ratio of 40.70, a PEG ratio of 3.60 and a beta of 1.36. The company’s 50 day moving average is $424.12 and its two-hundred day moving average is $453.85. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (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 business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the firm posted $2.53 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley reduced their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price target 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. Piper Sandler reissued a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, 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 report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $517.29.

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.