IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Red Spruce Capital LLC

Red Spruce Capital LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,682 shares of the company’s stock after selling 82 shares during the quarter. Red Spruce Capital LLC’s holdings in IDEXX Laboratories were worth $706,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $412,258,000. GAMMA Investing LLC raised its position in IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock valued at $3,856,950,000 after purchasing an additional 916,898 shares during the period. Flossbach Von Storch SE lifted its stake in IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after purchasing an additional 464,791 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in IDEXX Laboratories during the fourth quarter worth $156,412,000. Finally, William Blair Investment Management LLC boosted its position in shares of IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after buying an additional 369,471 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, the director now directly owns 1,801 shares in the company, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories Stock Up 0.2%

Shares of NASDAQ:IDXX opened at $515.55 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $530.60. The stock has a market cap of $41.46 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The firm’s 50 day moving average price is $447.90 and its 200 day moving average price is $436.67.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. 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. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $536.00.

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.