Bamco Inc. NY Grows Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bamco Inc. NY grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,005,522 shares of the company’s stock after acquiring an additional 82,264 shares during the quarter. IDEXX Laboratories accounts for approximately 2.1% of Bamco Inc. NY’s investment portfolio, making the stock its 10th largest position. Bamco Inc. NY’s holdings in IDEXX Laboratories were worth $829,163,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $412,258,000. Flossbach Von Storch SE lifted its stake in shares of IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after acquiring an additional 464,791 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $156,412,000. William Blair Investment Management LLC increased its holdings in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after purchasing an additional 369,471 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after purchasing an additional 316,048 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

IDXX stock opened at $471.90 on Friday. The firm has a market cap 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. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $419.26 and a 200-day moving average price of $428.28. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88.

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

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IDXX shares. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Morgan Stanley dropped 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 reduced their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.75.

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.