Nordea Investment Management AB Acquires 334 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nordea Investment Management AB raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,409 shares of the company’s stock after buying an additional 334 shares during the quarter. Nordea Investment Management AB’s holdings in IDEXX Laboratories were worth $2,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of IDEXX Laboratories during the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of IDEXX Laboratories in the third quarter worth about $37,000. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IDXX. Barclays dropped their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $539.63.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 3.3 %

Shares of IDXX opened at $418.05 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $423.76 and a 200 day moving average of $460.18. The company has a market cap of $34.23 billion, a PE ratio of 40.31, a P/E/G ratio of 3.94 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same quarter last year, the business earned $2.53 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

IDEXX Laboratories Company 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.