Swedbank AB Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Swedbank AB decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,452 shares of the company’s stock after selling 2,322 shares during the period. Swedbank AB’s holdings in IDEXX Laboratories were worth $15,071,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Algert Global LLC lifted its stake in shares of IDEXX Laboratories by 70.0% during the 2nd quarter. Algert Global LLC now owns 709 shares of the company’s stock valued at $345,000 after buying an additional 292 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of IDEXX Laboratories by 14.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock worth $1,031,000 after acquiring an additional 260 shares during the period. Cetera Investment Advisers grew its position in shares of IDEXX Laboratories by 0.8% during the second quarter. Cetera Investment Advisers now owns 20,290 shares of the company’s stock worth $9,885,000 after purchasing an additional 161 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $1,363,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in IDEXX Laboratories by 8.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 361 shares of the company’s stock worth $182,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $422.05 on Friday. The firm has a market capitalization of $34.56 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 3.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The business has a 50 day simple moving average of $424.02 and a 200-day simple moving average of $454.59. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping 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 company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period in the prior year, the company posted $2.53 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IDXX. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. decreased 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 note on Friday, October 11th. Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Leerink Partners started coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction 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 sale, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.11% of the stock is owned by corporate insiders.

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.