Stevens Capital Management LP Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Stevens Capital Management LP lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,570 shares of the company’s stock after acquiring an additional 286 shares during the period. Stevens Capital Management LP’s holdings in IDEXX Laboratories were worth $871,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IDXX. OFI Invest Asset Management acquired a new stake in IDEXX Laboratories in the third quarter valued at approximately $25,000. Valley National Advisers Inc. lifted its stake in IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the last quarter. Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories during the third quarter worth $28,000. Covestor Ltd lifted its stake in IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 28 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in IDEXX Laboratories by 108.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 1.0 %

Shares of NASDAQ IDXX traded down $5.02 during trading hours on Thursday, hitting $489.24. The stock had a trading volume of 358,450 shares, compared to its average volume of 430,629. The company has a market capitalization of $40.63 billion, a P/E ratio of 49.08, a P/E/G ratio of 3.80 and a beta of 1.26. The firm’s 50-day moving average price is $533.74 and its two-hundred day moving average price is $510.50. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. 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 (NASDAQ:IDXX) last announced its earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the prior year, the business earned $2.05 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was 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 in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 over the last three months. 2.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays raised their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research note on Tuesday, January 30th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.