Alesco Advisors LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Alesco Advisors LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 500 shares of the company’s stock, valued at approximately $278,000.

A number of other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of IDEXX Laboratories by 51,631.3% during the fourth quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after acquiring an additional 546,775 shares during the last quarter. Winslow Capital Management LLC increased its position in shares of IDEXX Laboratories by 24.9% during the third quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock valued at $301,661,000 after acquiring an additional 137,621 shares during the last quarter. Barclays PLC increased its position in shares of IDEXX Laboratories by 46.7% during the third quarter. Barclays PLC now owns 248,476 shares of the company’s stock valued at $108,651,000 after acquiring an additional 79,102 shares during the last quarter. abrdn plc increased its position in shares of IDEXX Laboratories by 46.5% during the fourth quarter. abrdn plc now owns 246,130 shares of the company’s stock valued at $136,614,000 after acquiring an additional 78,166 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of IDEXX Laboratories by 51.3% during the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock valued at $98,353,000 after acquiring an additional 76,350 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 2.1 %

Shares of NASDAQ:IDXX traded up $10.06 during trading on Friday, hitting $499.30. 529,811 shares of the company were exchanged, compared to its average volume of 431,856. The stock has a market capitalization of $41.47 billion, a P/E ratio of 49.58, a PEG ratio of 3.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The firm’s 50 day moving average price is $531.02 and its 200-day moving average price is $510.75.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same quarter in the previous year, the firm earned $2.05 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. On average, research analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Barclays boosted their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group boosted their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Activity at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at $45,377,624.67. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 in the last 90 days. 2.11% of the stock is owned by 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.