Prelude Capital Management LLC Acquires New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by Defense World Staff on Mar 14th, 2023

Prelude Capital Management LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,186 shares of the company’s stock, valued at approximately $386,000.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in IDEXX Laboratories by 4.2% during the 3rd quarter. BlackRock Inc. now owns 8,792,300 shares of the company’s stock worth $2,864,533,000 after purchasing an additional 358,427 shares in the last quarter. FMR LLC boosted its holdings in IDEXX Laboratories by 82.5% in the 2nd quarter. FMR LLC now owns 2,067,814 shares of the company’s stock valued at $725,243,000 after purchasing an additional 934,829 shares during the period. Brown Advisory Inc. boosted its stake in IDEXX Laboratories by 16.4% during the third quarter. Brown Advisory Inc. now owns 1,212,028 shares of the company’s stock valued at $394,880,000 after buying an additional 170,834 shares during the period. Capital World Investors grew its holdings in shares of IDEXX Laboratories by 0.5% during the first quarter. Capital World Investors now owns 999,102 shares of the company’s stock worth $546,577,000 after purchasing an additional 4,587 shares in the last quarter. Finally, Capital Counsel LLC NY increased its position in shares of IDEXX Laboratories by 0.7% in the third quarter. Capital Counsel LLC NY now owns 489,232 shares of the company’s stock worth $159,392,000 after purchasing an additional 3,416 shares during the last quarter. 87.90% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Up 1.3 %

Shares of IDEXX Laboratories stock opened at $460.92 on Tuesday. The company’s 50 day moving average price is $477.75 and its 200-day moving average price is $412.25. IDEXX Laboratories, Inc. has a 52-week low of $317.06 and a 52-week high of $560.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.59 and a current ratio of 0.89. The stock has a market capitalization of $38.21 billion, a price-to-earnings ratio of 57.40, a P/E/G ratio of 2.64 and a beta of 1.18.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last released its quarterly earnings data on Monday, February 6th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.13. The firm had revenue of $828.60 million for the quarter, compared to analysts’ expectations of $820.91 million. IDEXX Laboratories had a net margin of 20.17% and a return on equity of 124.51%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 9.58 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other news, SVP Kathy V. Turner sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total transaction of $1,009,180.00. Following the transaction, the senior vice president now directly owns 7,380 shares of the company’s stock, valued at $3,723,874.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other IDEXX Laboratories news, SVP Kathy V. Turner sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $505.04, for a total value of $505,040.00. Following the completion of the sale, the senior vice president now directly owns 6,941 shares in the company, valued at $3,505,482.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kathy V. Turner sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $504.59, for a total value of $1,009,180.00. Following the transaction, the senior vice president now owns 7,380 shares in the company, valued at approximately $3,723,874.20. The disclosure for this sale can be found here. 2.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on IDXX. TheStreet upgraded shares of IDEXX Laboratories from a “c+” rating to a “b-” rating in a research report on Friday, November 25th. The Goldman Sachs Group upped their target price on shares of IDEXX Laboratories from $465.00 to $530.00 and gave the stock a “buy” rating in a research report on Wednesday, January 25th. Morgan Stanley cut their price objective on IDEXX Laboratories from $573.00 to $543.00 and set an “overweight” rating for the company in a report on Tuesday, November 15th. Atlantic Securities raised their price objective on IDEXX Laboratories from $470.00 to $600.00 and gave the company an “overweight” rating in a report on Tuesday, February 7th. Finally, JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $525.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $514.75.

IDEXX Laboratories Profile

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water, Livestock, Poultry and Dairy (LPD), and Other.