Fmr LLC Purchases 10,017 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fmr LLC increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 290,861 shares of the company’s stock after buying an additional 10,017 shares during the period. Fmr LLC’s holdings in IDEXX Laboratories were worth $146,949,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in shares of IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after buying an additional 96 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in IDEXX Laboratories during the 2nd quarter valued at $20,418,000. Oppenheimer Asset Management Inc. lifted its position in IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the last quarter. National Pension Service lifted its holdings in shares of IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after acquiring an additional 12,647 shares during the last quarter. Finally, EFG Asset Management Americas Corp. boosted its stake in shares of IDEXX Laboratories by 45.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after purchasing an additional 3,966 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction on 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 $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IDXX shares. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. lowered their target price 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, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $546.56.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $432.11 on Wednesday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The business’s fifty day simple moving average is $448.89 and its 200-day simple moving average is $475.75. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $35.39 billion, a PE ratio of 41.67, a PEG ratio of 3.76 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period last year, the business posted $2.53 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. Analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

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.