AIA Group Ltd Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

AIA Group Ltd raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.3% during the fourth quarter, HoldingsChannel reports. The firm owned 4,728 shares of the company’s stock after purchasing an additional 986 shares during the period. AIA Group Ltd’s holdings in IDEXX Laboratories were worth $2,624,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Ninety One UK Ltd increased its position in IDEXX Laboratories by 69.2% during the 4th quarter. Ninety One UK Ltd now owns 34,827 shares of the company’s stock valued at $19,331,000 after purchasing an additional 14,247 shares during the period. Ninety One North America Inc. grew its position in shares of IDEXX Laboratories by 74.1% in the 4th quarter. Ninety One North America Inc. now owns 11,892 shares of the company’s stock worth $6,601,000 after buying an additional 5,063 shares during the last quarter. Flossbach Von Storch AG purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $1,692,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of IDEXX Laboratories by 6.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,508 shares of the company’s stock worth $14,713,000 after buying an additional 1,491 shares during the last quarter. Finally, Wealth Alliance purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $234,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $477.79 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a 50 day simple moving average of $539.94 and a two-hundred day simple moving average of $508.49. The stock has a market cap of $39.68 billion, a price-to-earnings ratio of 47.45, a PEG ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same period in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IDXX. JPMorgan Chase & Co. lifted their price objective 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. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. The Goldman Sachs Group lifted their price objective 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. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a research report on Tuesday, January 30th. Finally, Barclays lifted their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $591.50.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories 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 directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories 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 transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock worth $24,871,960. Company insiders own 2.11% of the company’s stock.

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.