Carnegie Capital Asset Management LLC Acquires New Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Carnegie Capital Asset Management LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 401 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. Moneta Group Investment Advisors LLC grew its position in IDEXX Laboratories by 121,647.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after buying an additional 7,441,162 shares during the last quarter. Norges Bank purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth $336,416,000. International Assets Investment Management LLC boosted its position in shares of IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after purchasing an additional 546,775 shares in the last quarter. Morgan Stanley boosted its position in shares of IDEXX Laboratories by 36.0% during the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after purchasing an additional 260,926 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of IDEXX Laboratories by 6.4% during the 2nd quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock worth $1,804,428,000 after purchasing an additional 214,529 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on IDXX shares. Barclays boosted their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research report on Tuesday, January 30th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. Finally, The Goldman Sachs Group boosted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $591.50.

Insider Transactions at IDEXX Laboratories

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 in the last three months. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 2.3 %

NASDAQ:IDXX opened at $478.24 on Thursday. The company has a market capitalization of $39.72 billion, a PE ratio of 47.49, a price-to-earnings-growth ratio of 3.77 and a beta of 1.26. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $541.86 and a 200-day simple moving average of $508.71.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal 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.