Daiwa Securities Group Inc. Has $6.48 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Daiwa Securities Group Inc. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 33.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,666 shares of the company’s stock after selling 5,933 shares during the period. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $6,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDXX. Panagora Asset Management Inc. lifted its stake in IDEXX Laboratories by 50.3% during the first quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock worth $1,768,000 after purchasing an additional 1,081 shares during the period. Raymond James Trust N.A. grew its position in IDEXX Laboratories by 26.8% in the first quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock valued at $888,000 after acquiring an additional 343 shares during the period. Cetera Investment Advisers lifted its holdings in shares of IDEXX Laboratories by 77.1% during the first quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock valued at $2,010,000 after acquiring an additional 1,600 shares during the period. Moors & Cabot Inc. boosted its stake in shares of IDEXX Laboratories by 3.0% in the 1st quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock valued at $961,000 after purchasing an additional 52 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of IDEXX Laboratories by 15.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock valued at $543,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IDXX shares. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Barclays boosted 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 downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. The Goldman Sachs Group lifted their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $477.79 on Friday. The company 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. 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. The stock has a fifty day moving average price of $539.94 and a 200-day moving average price of $508.49.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share 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%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Activity

In related news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 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 can be accessed through this link. In related news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred 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 sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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. Over the last three months, insiders have sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is currently owned by corporate insiders.

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.