IDEXX Laboratories, Inc. (NASDAQ:IDXX) Institutional Investors Trim Holdings
Dynamic Technology Lab Private Ltd has significantly reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 76.2% in the fourth quarter, according to its recent Form 13F filing with the Securities and Exchange Commission. The institutional investor now owns 674 shares of the company’s stock after selling 2,154 shares during the period, with a value of $374,000 at the end of the reporting period.
Other large investors have also been active in trading IDEXX Laboratories shares. Gotham Asset Management LLC increased its holdings by 79.9% in the third quarter, while NewEdge Wealth LLC and Assenagon Asset Management S.A. also boosted their positions. Carderock Capital Management Inc. and DekaBank Deutsche Girozentrale also saw increases in their holdings during the fourth quarter.
Wall Street analysts have been closely monitoring IDEXX Laboratories, with JPMorgan Chase & Co. raising their price target on the stock and giving it an “overweight” rating. StockNews.com also upgraded IDEXX Laboratories to a “buy” rating. Overall, analysts have a consensus rating of “Moderate Buy” on the stock, with a consensus price target of $580.38.
NASDAQ IDXX opened at $516.50 on Monday, with a market cap of $42.66 billion. IDEXX Laboratories reported earnings per share of $2.81 for the quarter, beating analyst estimates. The company has a strong financial position with a net margin of 23.26% and a return on equity of 63.66%.
In insider trading news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock, with company insiders now owning 2.11% of the stock.
IDEXX Laboratories, Inc. develops, manufactures, and distributes products for the veterinary, livestock, poultry, dairy, and water testing markets globally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.
Overall, IDEXX Laboratories continues to be a strong player in the market, with positive analyst ratings and a solid financial performance. Investors and analysts will be closely watching the company’s future developments and growth prospects.
