Ninety One North America Inc. Has $6.60 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ninety One North America Inc. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 74.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,892 shares of the company’s stock after acquiring an additional 5,063 shares during the quarter. Ninety One North America Inc.’s holdings in IDEXX Laboratories were worth $6,601,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Flossbach Von Storch AG acquired a new position in IDEXX Laboratories during the fourth quarter worth about $1,692,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in IDEXX Laboratories by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,508 shares of the company’s stock worth $14,713,000 after acquiring an additional 1,491 shares in the last quarter. Wealth Alliance acquired a new position in IDEXX Laboratories during the fourth quarter worth about $234,000. DGS Capital Management LLC raised its stake in IDEXX Laboratories by 12.2% during the fourth quarter. DGS Capital Management LLC now owns 1,064 shares of the company’s stock worth $591,000 after acquiring an additional 116 shares in the last quarter. Finally, United Asset Strategies Inc. raised its stake in IDEXX Laboratories by 1.9% during the fourth quarter. United Asset Strategies Inc. now owns 23,652 shares of the company’s stock worth $13,128,000 after acquiring an additional 444 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several recent research reports. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. 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 research note on Wednesday, January 17th. Barclays upped their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. 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 research note on Tuesday, February 6th. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $591.50.

Insider Buying and Selling

In related 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 value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the SEC, 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 completion of the transaction, the chief executive officer now owns 79,247 shares in the company, valued at $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 ninety days. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Up 0.4 %

Shares of IDEXX Laboratories stock traded up $1.86 on Thursday, reaching $480.10. 163,024 shares of the company’s stock were exchanged, compared to its average volume of 424,065. The company has a market capitalization of $39.87 billion, a P/E 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 firm’s 50-day moving average is $541.86 and its two-hundred day moving average is $508.71. 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 posted its quarterly 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. The firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company’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 business earned $2.05 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

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.