Acadian Asset Management LLC decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,021 shares of the company’s stock after selling 2,461 shares during the quarter. Acadian Asset Management LLC’s holdings in IDEXX Laboratories were worth $1,346,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Morgan Stanley lifted its holdings in shares of IDEXX Laboratories by 15.1% during the third quarter. Morgan Stanley now owns 439,913 shares of the company’s stock valued at $109,830,000 after purchasing an additional 57,828 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of IDEXX Laboratories by 0.3% during the third quarter. Vanguard Group Inc now owns 8,918,451 shares of the company’s stock valued at $2,226,581,000 after purchasing an additional 23,970 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at $383,000. Quantamental Technologies LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at $92,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of IDEXX Laboratories by 1.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,131 shares of the company’s stock valued at $583,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 87.70% of the company’s stock.
IDXX stock traded up $3.28 during mid-day trading on Friday, hitting $275.33. The stock had a trading volume of 646,056 shares, compared to its average volume of 334,034. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 14.81. IDEXX Laboratories, Inc. has a 1-year low of $176.11 and a 1-year high of $278.61. The business’s fifty day moving average price is $259.18. The stock has a market cap of $23.41 billion, a PE ratio of 64.63 and a beta of 0.84.
IDXX has been the subject of several research analyst reports. BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Canaccord Genuity reduced their price objective on IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Guggenheim initiated coverage on IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price objective for the company. Finally, Bank of America set a $300.00 price objective on IDEXX Laboratories and gave the stock a “buy” rating in a research note on Friday, June 21st. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $266.00.
In other news, Chairman Jonathan W. Ayers sold 28,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $249.02, for a total transaction of $6,972,560.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rebecca M. Henderson sold 8,790 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $241.57, for a total value of $2,123,400.30. Following the transaction, the director now directly owns 27,486 shares in the company, valued at approximately $6,639,793.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,721 shares of company stock worth $12,554,774. Insiders own 2.70% of the company’s stock.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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