Bamco Inc. NY Increases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bamco Inc. NY increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,005,522 shares of the company’s stock after acquiring an additional 82,264 shares during the quarter. IDEXX Laboratories comprises about 2.1% of Bamco Inc. NY’s investment portfolio, making the stock its 10th largest position. Bamco Inc. NY owned approximately 2.45% of IDEXX Laboratories worth $829,163,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $29,000. Rialto Wealth Management LLC bought a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth $31,000. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $38,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock valued at $40,000 after buying an additional 81 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX opened at $471.90 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The business has a fifty day simple moving average of $419.26 and a 200 day simple moving average of $428.28. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88. The company has a market capitalization of $38.24 billion, a PE ratio of 44.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. During the same quarter in the previous year, the business posted $2.71 earnings per share. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on IDXX. Morgan Stanley decreased their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Bank of America boosted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Barclays boosted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $523.75.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

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.