Russell Investments Group Ltd. Sells 25,234 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Russell Investments Group Ltd. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 50.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,599 shares of the company’s stock after selling 25,234 shares during the quarter. Russell Investments Group Ltd.’s holdings in IDEXX Laboratories were worth $13,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Blair William & Co. IL raised its position in shares of IDEXX Laboratories by 0.7% during the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock worth $524,700,000 after acquiring an additional 7,812 shares during the last quarter. Morgan Stanley increased its holdings in IDEXX Laboratories by 4.7% in the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after purchasing an additional 48,095 shares during the last quarter. Northern Trust Corp increased its holdings in IDEXX Laboratories by 7.7% in the third quarter. Northern Trust Corp now owns 919,191 shares of the company’s stock valued at $401,935,000 after purchasing an additional 65,891 shares during the last quarter. Principal Financial Group Inc. increased its holdings in IDEXX Laboratories by 1.4% in the third quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock valued at $356,753,000 after purchasing an additional 11,315 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in IDEXX Laboratories by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock valued at $350,373,000 after purchasing an additional 65,760 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was 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 $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction dated 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 owns 79,247 shares in the company, valued at $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 over the last three months. Company insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a research note on Tuesday, January 30th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Barclays decreased their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $580.88.

IDEXX Laboratories Stock Up 1.0 %

IDXX stock opened at $480.60 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.17. The stock has a market capitalization of $39.69 billion, a P/E ratio of 46.52, a P/E/G ratio of 3.74 and a beta of 1.27. The business has a 50-day moving average of $523.29 and a 200-day moving average of $512.43. 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 posted 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 company had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.06 earnings per share for the current fiscal year.

About IDEXX Laboratories

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.