Chicago Capital LLC Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Chicago Capital LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 86,184 shares of the company’s stock after selling 7,397 shares during the period. Chicago Capital LLC’s holdings in IDEXX Laboratories were worth $35,632,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Mather Group LLC. grew its position in shares of IDEXX Laboratories by 3.9% in the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after buying an additional 23 shares during the last quarter. Sovereign Financial Group Inc. boosted its stake in IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares during the period. Angeles Wealth Management LLC boosted its stake in IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after purchasing an additional 25 shares during the period. Cranbrook Wealth Management LLC boosted its stake in IDEXX Laboratories by 7.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after purchasing an additional 25 shares during the period. Finally, Perigon Wealth Management LLC boosted its stake in IDEXX Laboratories by 1.8% during the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 0.5 %

Shares of NASDAQ IDXX opened at $422.05 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The firm has a 50-day moving average price of $424.12 and a 200 day moving average price of $453.85. The stock has a market capitalization of $34.56 billion, a price-to-earnings ratio of 40.70, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter last year, the business earned $2.53 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDXX. Morgan Stanley decreased their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Barclays reduced their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $517.29.

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.