Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 26,508 shares of the company’s stock after buying an additional 1,491 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IDEXX Laboratories were worth $14,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Wealth Alliance purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $234,000. DGS Capital Management LLC grew its position in IDEXX Laboratories by 12.2% during the fourth quarter. DGS Capital Management LLC now owns 1,064 shares of the company’s stock valued at $591,000 after buying an additional 116 shares during the period. United Asset Strategies Inc. grew its position in IDEXX Laboratories by 1.9% during the fourth quarter. United Asset Strategies Inc. now owns 23,652 shares of the company’s stock valued at $13,128,000 after buying an additional 444 shares during the period. SVB Wealth LLC grew its position in IDEXX Laboratories by 7.9% during the fourth quarter. SVB Wealth LLC now owns 1,983 shares of the company’s stock valued at $1,101,000 after buying an additional 146 shares during the period. Finally, Carnegie Capital Asset Management LLC bought a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $223,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $477.79 on Friday. The firm has a market cap of $39.68 billion, a price-to-earnings ratio of 47.45, a P/E/G ratio of 3.68 and a beta of 1.26. The firm has a fifty day moving average price of $539.94 and a 200 day moving average price of $508.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

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

Insider Activity at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction 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 directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 over the last 90 days. 2.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Barclays upped their price target 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. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $591.50.

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.