JPMorgan Chase & Co. reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,711 shares of the company’s stock after selling 131,796 shares during the quarter. JPMorgan Chase & Co. owned about 0.63% of IDEXX Laboratories worth $84,241,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Koch Industries Inc. lifted its stake in IDEXX Laboratories by 44,533.1% in the 2nd quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock worth $1,391,000 after purchasing an additional 1,396,113 shares in the last quarter. Janus Henderson Group PLC lifted its stake in IDEXX Laboratories by 486.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,131,902 shares of the company’s stock worth $182,711,000 after purchasing an additional 938,888 shares in the last quarter. BlackRock Inc. lifted its stake in IDEXX Laboratories by 10.5% in the 2nd quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock worth $1,146,142,000 after purchasing an additional 673,347 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $83,723,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in IDEXX Laboratories by 42.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,310,660 shares of the company’s stock worth $211,567,000 after purchasing an additional 392,790 shares in the last quarter. Institutional investors own 86.80% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at $159.30 on Tuesday. The company has a market cap of $13,518.90, a price-to-earnings ratio of 52.19, a PEG ratio of 2.34 and a beta of 0.42. IDEXX Laboratories, Inc. has a twelve month low of $113.71 and a twelve month high of $173.01. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of -12.48.
In other news, insider Giovani Twigge sold 2,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $156.07, for a total value of $312,140.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jonathan W. Ayers sold 18,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $153.75, for a total transaction of $2,767,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,064,573 shares in the company, valued at approximately $163,678,098.75. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock worth $16,686,200 in the last three months. Insiders own 2.77% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Tuesday, October 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Friday, October 6th. Finally, Bank of America upgraded shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $173.67.
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IDEXX Laboratories Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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