Seilern Investment Management Ltd Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Seilern Investment Management Ltd cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 265,949 shares of the company’s stock after selling 7,618 shares during the period. IDEXX Laboratories accounts for 7.3% of Seilern Investment Management Ltd’s portfolio, making the stock its 4th biggest position. Seilern Investment Management Ltd owned approximately 0.33% of IDEXX Laboratories worth $111,685,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hurley Capital LLC bought a new stake in IDEXX Laboratories during the fourth quarter worth about $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $30,000. Colonial Trust Co SC boosted its position in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $38,000. Finally, Itau Unibanco Holding S.A. increased its position in IDEXX Laboratories by 540.0% during 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.

Analyst Ratings Changes

IDXX has been the topic of several analyst reports. Stifel Nicolaus boosted their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a report on Monday, May 19th. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Morgan Stanley upped their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $536.00.

IDEXX Laboratories Stock Up 0.5%

Shares of NASDAQ IDXX opened at $524.91 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.73. The firm’s 50-day moving average price is $460.16 and its 200-day moving average price is $440.88. The stock has a market capitalization of $42.21 billion, a price-to-earnings ratio of 49.19, a P/E/G ratio of 3.41 and a beta of 1.55.

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

Insider Activity

In related news, Director M Anne Szostak sold 1,046 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total transaction of $537,372.04. Following the transaction, the director now directly owns 262 shares in the company, valued at approximately $134,599.88. This represents a 79.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.