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

Seilern Investment Management Ltd lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 265,949 shares of the company’s stock after selling 7,618 shares during the period. IDEXX Laboratories accounts for about 7.3% of Seilern Investment Management Ltd’s investment portfolio, making the stock its 4th biggest holding. Seilern Investment Management Ltd’s holdings in IDEXX Laboratories were worth $111,685,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of IDXX. United Capital Financial Advisors LLC increased its holdings in IDEXX Laboratories by 0.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock valued at $1,011,000 after buying an additional 22 shares during the period. Gabelli Funds LLC boosted its position in IDEXX Laboratories by 5.3% during the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock valued at $207,000 after acquiring an additional 25 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in shares of IDEXX Laboratories by 3.3% in the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after acquiring an additional 26 shares during the period. Forum Financial Management LP raised its position in shares of IDEXX Laboratories by 4.9% in the 4th quarter. Forum Financial Management LP now owns 621 shares of the company’s stock worth $257,000 after acquiring an additional 29 shares in the last quarter. Finally, Retirement Wealth Solutions LLC raised its position in shares of IDEXX Laboratories by 40.0% in the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company’s stock worth $44,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,046 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total value of $537,372.04. Following the sale, the director now directly owns 262 shares of the company’s stock, valued at $134,599.88. This represents a 79.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Trading Up 0.5%

Shares of IDEXX Laboratories stock opened at $524.91 on Friday. The firm’s 50 day simple moving average is $460.16 and its two-hundred day simple moving average is $440.88. The firm has a market capitalization of $42.21 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 3.41 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.73. 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 (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the previous year, the business earned $2.71 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of recent research reports. Wall Street Zen downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Piper Sandler raised their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research note on Monday, May 19th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently 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.