BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,780 shares of the company's stock after selling 2,134 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in IDEXX Laboratories were worth $6,962,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock valued at $2,669,890,000 after acquiring an additional 527,460 shares in the last quarter. Clearbridge Investments LLC raised its holdings in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company's stock worth $171,891,000 after purchasing an additional 308,493 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of IDEXX Laboratories by 3,325.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company's stock worth $111,229,000 after purchasing an additional 213,731 shares during the period. American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company's stock valued at $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of IDEXX Laboratories by 4,193.1% during the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company's stock valued at $62,601,000 after buying an additional 125,498 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target 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. Piper Sandler reiterated a "neutral" rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and an average price target of $546.56.

IDEXX Laboratories Stock Up 2.1 %

NASDAQ:IDXX traded up $9.02 on Monday, reaching $430.77. 710,969 shares of the stock traded hands, compared to its average volume of 506,635. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $35.28 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 3.68 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The company's fifty day simple moving average is $451.91 and its 200 day simple moving average is $477.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same quarter last year, the company earned $2.53 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

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.