New England Research & Management Inc. Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

New England Research & Management Inc. increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 51.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,095 shares of the company's stock after purchasing an additional 715 shares during the quarter. New England Research & Management Inc.'s holdings in IDEXX Laboratories were worth $866,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock valued at $2,669,890,000 after buying an additional 527,460 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock valued at $179,867,000 after acquiring an additional 316,048 shares during the last quarter. Clearbridge Investments LLC lifted its stake in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company's stock worth $171,891,000 after purchasing an additional 308,493 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $113,104,000. Finally, Vontobel Holding Ltd. grew its position in shares of IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company's stock valued at $111,229,000 after purchasing an additional 213,731 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 1.9 %

Shares of NASDAQ IDXX traded up $8.07 during trading on Thursday, reaching $426.82. The stock had a trading volume of 273,188 shares, compared to its average volume of 671,282. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The company has a market cap of $34.95 billion, a P/E ratio of 41.20, a PEG ratio of 3.63 and a beta of 1.36. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The business's 50-day moving average price is $423.93 and its 200-day moving average price is $454.80.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period in the prior year, the firm earned $2.53 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $517.29.

IDEXX Laboratories Profile

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.