Bank Julius Baer & Co. Ltd Zurich Raises Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank Julius Baer & Co. Ltd Zurich grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 171,290 shares of the company’s stock after acquiring an additional 3,433 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in IDEXX Laboratories were worth $95,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OFI Invest Asset Management purchased a new position in IDEXX Laboratories during the third quarter worth about $25,000. Valley National Advisers Inc. lifted its position in IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after buying an additional 22 shares during the period. Geo Capital Gestora de Recursos Ltd purchased a new position in IDEXX Laboratories during the third quarter worth about $28,000. Covestor Ltd lifted its position in IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in IDEXX Laboratories by 108.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after acquiring an additional 38 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IDXX. Piper Sandler lowered 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. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Barclays increased 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. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group increased their target price on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Stock Down 1.0 %

NASDAQ IDXX traded down $5.02 during mid-day trading on Thursday, reaching $489.24. 358,456 shares of the company’s stock traded hands, compared to its average volume of 430,629. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a fifty day simple moving average of $533.74 and a 200-day simple moving average of $510.50. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The company has a market cap of $40.63 billion, a price-to-earnings ratio of 49.08, a P/E/G ratio of 3.80 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same quarter last year, the firm earned $2.05 EPS. IDEXX Laboratories’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insider Buying and Selling

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 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 owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,524 shares of company stock valued at $24,871,960. Insiders own 2.11% of the company’s stock.

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.