IDEXX Laboratories, Inc. (NASDAQ:IDXX) Holdings Trimmed by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 28.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,427 shares of the company's stock after selling 1,370 shares during the period. Sumitomo Life Insurance Co.'s holdings in IDEXX Laboratories were worth $1,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock valued at $1,138,732,000 after purchasing an additional 40,349 shares in the last quarter. Franklin Resources Inc. raised its stake in IDEXX Laboratories by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company's stock valued at $675,259,000 after acquiring an additional 34,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company's stock worth $379,875,000 after purchasing an additional 2,463 shares during the period. International Assets Investment Management LLC lifted its stake in shares of IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock worth $2,669,890,000 after acquiring an additional 527,460 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock valued at $179,867,000 after purchasing an additional 316,048 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Up 2.9 %

IDXX opened at $430.94 on Thursday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The firm has a market capitalization of $35.29 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 3.63 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 company has a fifty day moving average price of $423.93 and a 200-day moving average price of $454.80.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating 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 company had revenue of $975.50 million during the quarter, compared to analysts' expectations of $980.32 million. During the same quarter last year, the business posted $2.53 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IDXX. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Thursday, October 10th. Piper Sandler reissued a "neutral" rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price objective for the company. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $517.29.

Insider Activity

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

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.