Norges Bank Makes New $412.26 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Norges Bank purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 997,140 shares of the company's stock, valued at approximately $412,258,000. Norges Bank owned approximately 1.22% of IDEXX Laboratories as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cranbrook Wealth Management LLC increased its holdings in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company's stock worth $158,000 after acquiring an additional 25 shares in the last quarter. Perigon Wealth Management LLC raised its position in shares of IDEXX Laboratories by 1.8% during the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company's stock worth $632,000 after purchasing an additional 26 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in IDEXX Laboratories by 3.3% in the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock worth $335,000 after buying an additional 26 shares during the last quarter. IFP Advisors Inc increased its stake in IDEXX Laboratories by 3.6% during the 4th quarter. IFP Advisors Inc now owns 903 shares of the company's stock worth $373,000 after buying an additional 31 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank boosted its stake in shares of IDEXX Laboratories by 0.5% in the third quarter. Cape Cod Five Cents Savings Bank now owns 6,344 shares of the company's stock worth $3,091,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

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Insider Activity at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the transaction, the director now directly owns 3,061 shares of the company's stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.11% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on IDXX. Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Bank of America boosted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley dropped their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Trading Up 1.4 %

NASDAQ:IDXX traded up $5.91 on Wednesday, reaching $424.48. 178,044 shares of the company's stock were exchanged, compared to its average volume of 712,171. The firm has a market capitalization of $34.41 billion, a price-to-earnings ratio of 39.78, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $436.90 and a 200-day moving average of $441.45.

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.