Ameriprise Financial Inc. Has $49.03 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ameriprise Financial Inc. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 44.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,601 shares of the company’s stock after selling 93,577 shares during the quarter. Ameriprise Financial Inc. owned 0.14% of IDEXX Laboratories worth $49,033,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Hurley Capital LLC bought a new position in IDEXX Laboratories in the fourth quarter valued at $29,000. Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $31,000. Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $38,000. Finally, Itau Unibanco Holding S.A. raised its holdings in IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company’s stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Up 0.4 %

Shares of IDXX stock opened at $491.70 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88. The company has a market capitalization of $39.85 billion, a PE ratio of 46.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The firm has a 50 day moving average price of $423.31 and a two-hundred day moving average price of $429.16. 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 (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $998.25 million. During the same period last year, the firm posted $2.71 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on IDXX shares. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America upped their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research report on Monday, April 14th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Barclays raised their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $524.75.

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.