IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Penserra Capital Management LLC

Posted by on Jul 9th, 2023

Penserra Capital Management LLC raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 124,800.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,996 shares of the company’s stock after acquiring an additional 4,992 shares during the quarter. Penserra Capital Management LLC’s holdings in IDEXX Laboratories were worth $2,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IDXX. Altshuler Shaham Ltd acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth about $31,000. Pacifica Partners Inc. purchased a new position in IDEXX Laboratories during the first quarter worth about $33,000. Carolinas Wealth Consulting LLC purchased a new stake in shares of IDEXX Laboratories in the 1st quarter valued at approximately $39,000. Finally, Fortis Capital Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 86.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on IDXX shares. StockNews.com began coverage on IDEXX Laboratories in a research note on Thursday, May 18th. They set a “buy” rating for the company. Morgan Stanley raised their price objective on IDEXX Laboratories from $543.00 to $590.00 and gave the stock an “overweight” rating in a research report on Thursday, March 23rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $527.86.

Insider Activity at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 2,187 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $469.02, for a total transaction of $1,025,746.74. Following the sale, the director now owns 872 shares of the company’s stock, valued at approximately $408,985.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jonathan W. Ayers sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 137,039 shares of the company’s stock, valued at approximately $67,043,589.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sophie V. Vandebroek sold 2,187 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $469.02, for a total value of $1,025,746.74. Following the transaction, the director now directly owns 872 shares in the company, valued at approximately $408,985.44. The disclosure for this sale can be found here. Insiders have sold a total of 13,187 shares of company stock valued at $6,402,047 over the last 90 days. 2.11% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Up 1.4 %

Shares of IDXX opened at $498.01 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $317.06 and a 1 year high of $515.79. The company’s 50-day simple moving average is $478.62 and its 200-day simple moving average is $475.01. The stock has a market capitalization of $41.29 billion, a PE ratio of 59.93, a P/E/G ratio of 2.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.71 and a current ratio of 1.08.

IDEXX Laboratories (NASDAQ:IDXX – Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.38 by $0.17. The business had revenue of $900.20 million during the quarter, compared to the consensus estimate of $887.36 million. IDEXX Laboratories had a net margin of 20.38% and a return on equity of 117.37%. Analysts forecast that IDEXX Laboratories, Inc. will post 9.65 earnings per share for the current fiscal year.

About IDEXX Laboratories

(Free Report)

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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