KBC Group NV Reduces Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KBC Group NV decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 88,363 shares of the company’s stock after selling 12,585 shares during the quarter. KBC Group NV’s holdings in IDEXX Laboratories were worth $36,534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. Chicago Partners Investment Group LLC lifted its position in shares of IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after buying an additional 96 shares during the last quarter. National Pension Service lifted its position in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after acquiring an additional 12,647 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of IDEXX Laboratories by 230.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Larson Financial Group LLC increased its position in shares of IDEXX Laboratories by 17,238.5% during the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,241 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of IDEXX Laboratories by 4,059.4% in the 3rd quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock valued at $1,450,000 after purchasing an additional 2,801 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 1.8 %

NASDAQ IDXX opened at $427.52 on Tuesday. 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 $423.74 and a 200 day moving average price of $456.01. The stock has a market capitalization of $35.01 billion, a P/E ratio of 41.23, a P/E/G ratio of 3.63 and a beta of 1.36. 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 (NASDAQ:IDXX) last posted its quarterly earnings results 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 return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period last year, the firm earned $2.53 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Wall Street Analysts Forecast Growth

IDXX has been the topic of several research analyst reports. Barclays cut their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two equities research 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 company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $523.86.

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.