CI Investments Inc. Acquires 121 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by Defense World Staff on May 25th, 2023

CI Investments Inc. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 52.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351 shares of the company’s stock after purchasing an additional 121 shares during the quarter. CI Investments Inc.’s holdings in IDEXX Laboratories were worth $143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. BlackRock Inc. boosted its stake in IDEXX Laboratories by 4.2% in 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 during the period. Brown Advisory Inc. boosted its position in shares of IDEXX Laboratories by 16.4% during the 3rd quarter. Brown Advisory Inc. now owns 1,212,028 shares of the company’s stock valued at $394,880,000 after acquiring an additional 170,834 shares during the last quarter. Echo Street Capital Management LLC boosted its position in shares of IDEXX Laboratories by 65.7% during the 3rd quarter. Echo Street Capital Management LLC now owns 421,416 shares of the company’s stock valued at $137,297,000 after acquiring an additional 167,164 shares during the last quarter. State Street Corp boosted its position in shares of IDEXX Laboratories by 3.6% during the 3rd quarter. State Street Corp now owns 3,784,353 shares of the company’s stock valued at $1,232,942,000 after acquiring an additional 132,091 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of IDEXX Laboratories by 4.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,906,690 shares of the company’s stock valued at $947,000,000 after acquiring an additional 128,011 shares during the last quarter. 87.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $525.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, February 7th. Atlantic Securities increased their target price on IDEXX Laboratories from $470.00 to $600.00 and gave the company an “overweight” rating in a research report on Tuesday, February 7th. The Goldman Sachs Group increased their target price on IDEXX Laboratories from $465.00 to $530.00 and gave the company a “buy” rating in a research report on Wednesday, January 25th. Morgan Stanley increased their price target on IDEXX Laboratories from $543.00 to $590.00 and gave the company an “overweight” rating in a report on Thursday, March 23rd. Finally, Barclays increased their price target on IDEXX Laboratories from $582.00 to $590.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $527.86.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $463.51 on Thursday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.71 and a current ratio of 1.08. The stock’s fifty day moving average is $483.32 and its 200 day moving average is $461.52. IDEXX Laboratories, Inc. has a fifty-two week low of $317.06 and a fifty-two week high of $515.79. The firm has a market capitalization of $38.42 billion, a PE ratio of 55.78, a PEG ratio of 2.77 and a beta of 1.19.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Jonathan W. Ayers sold 10,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $489.23, for a total value of $4,892,300.00. Following the sale, the director now owns 137,039 shares in the company, valued at $67,043,589.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other IDEXX Laboratories news, Director Jonathan W. Ayers sold 10,000 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $489.23, for a total value of $4,892,300.00. Following the sale, the director now owns 137,039 shares in the company, valued at $67,043,589.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Lane sold 1,000 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $484.00, for a total value of $484,000.00. Following the completion of the sale, the executive vice president now owns 4,022 shares in the company, valued at approximately $1,946,648. The disclosure for this sale can be found here. Insiders have sold a total of 13,187 shares of company stock worth $6,402,047 over the last quarter. Company insiders own 2.11% of the company’s stock.

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 Quality Products (Water), Livestock, Poultry, and Dairy (LPD), and Other.