Clear Harbor Asset Management LLC Has $3.26 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Clear Harbor Asset Management LLC lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,895 shares of the company’s stock after selling 125 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in IDEXX Laboratories were worth $3,264,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its holdings in IDEXX Laboratories by 4.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,295 shares of the company’s stock valued at $2,039,000 after buying an additional 176 shares during the period. Benjamin F. Edwards & Company Inc. raised its position in shares of IDEXX Laboratories by 2.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,657 shares of the company’s stock valued at $807,000 after acquiring an additional 45 shares during the last quarter. Bridges Investment Management Inc. acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $255,000. AE Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 16.6% in the 2nd quarter. AE Wealth Management LLC now owns 7,957 shares of the company’s stock worth $3,877,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of IDEXX Laboratories by 25.2% during the second quarter. Pacer Advisors Inc. now owns 12,013 shares of the company’s stock worth $5,853,000 after purchasing an additional 2,416 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $419.26 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The stock has a market capitalization of $34.33 billion, a P/E ratio of 40.43, a P/E/G ratio of 3.53 and a beta of 1.36. The company has a 50 day moving average of $423.60 and a 200-day moving average of $457.86.

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $523.86.

Insider Buying and Selling

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.18% of the stock is owned by corporate insiders.

IDEXX Laboratories 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.