IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 29.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,496 shares of the company's stock after selling 7,242 shares during the quarter. Fred Alger Management LLC's holdings in IDEXX Laboratories were worth $8,839,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of IDXX. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock worth $29,000 after buying an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock worth $34,000 after buying an additional 60 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $36,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the subject of several recent analyst reports. Barclays cut their target price on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Piper Sandler reissued a "neutral" rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus price target of $552.38.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the business's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company's stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.11% of the company's stock.

IDEXX Laboratories Stock Down 0.0 %

Shares of NASDAQ IDXX traded down $0.01 during midday trading on Friday, hitting $421.75. The company's stock had a trading volume of 338,607 shares, compared to its average volume of 672,036. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 3.68 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. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The business's fifty day simple moving average is $451.91 and its two-hundred day simple moving average is $477.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analysts' expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 EPS. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

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.