Carderock Capital Management Inc. Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Carderock Capital Management Inc. cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.0% in the fourth quarter, Holdings Channel reports. The fund owned 13,769 shares of the company’s stock after selling 718 shares during the quarter. Carderock Capital Management Inc.’s holdings in IDEXX Laboratories were worth $5,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. Geode Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after buying an additional 40,349 shares during the last quarter. Franklin Resources Inc. boosted its position in IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after acquiring an additional 34,305 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of IDEXX Laboratories by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock worth $379,875,000 after acquiring an additional 2,463 shares during the period. International Assets Investment Management LLC grew its stake in shares of IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX opened at $419.26 on Friday. The firm has a market capitalization of $34.33 billion, a PE ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The company has a fifty day moving average price of $423.88 and a two-hundred day moving average price of $458.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. IDEXX Laboratories’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.53 earnings per share. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Finally, Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $523.86.

Insider Activity

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.18% of the company’s stock.

About IDEXX Laboratories

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.