Wellington Management Group LLP Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wellington Management Group LLP lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 35.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,811 shares of the company's stock after acquiring an additional 19,663 shares during the period. Wellington Management Group LLP owned approximately 0.09% of IDEXX Laboratories worth $37,796,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC grew its position in IDEXX Laboratories by 91.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,975 shares of the company's stock worth $4,860,000 after purchasing an additional 4,772 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $238,000. Outlook Wealth Advisors LLC increased its holdings in shares of IDEXX Laboratories by 18.9% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 643 shares of the company's stock worth $313,000 after buying an additional 102 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of IDEXX Laboratories by 136.2% in the 2nd quarter. Blue Trust Inc. now owns 744 shares of the company's stock worth $402,000 after buying an additional 429 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its holdings in shares of IDEXX Laboratories by 2.7% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 4,725 shares of the company's stock valued at $2,302,000 after purchasing an additional 123 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $4.20 during midday trading on Friday, reaching $432.98. The stock had a trading volume of 149,529 shares, compared to its average volume of 511,400. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock has a 50-day moving average of $440.46 and a 200-day moving average of $472.39. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a market capitalization of $35.46 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the prior year, the business earned $2.53 earnings per share. IDEXX Laboratories's revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IDXX shares. Barclays reduced 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. JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a research report on Monday, December 2nd. Piper Sandler reaffirmed a "neutral" rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an "outperform" rating and a $500.00 target price for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $539.63.

Insider Buying and Selling at IDEXX Laboratories

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

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.