North Star Asset Management Inc. Buys Shares of 420 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

North Star Asset Management Inc. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 420 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also made changes to their positions in the company. Patron Partners LLC grew its position in IDEXX Laboratories by 2.7% during the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after purchasing an additional 20 shares in the last quarter. NewEdge Wealth LLC raised its holdings in IDEXX Laboratories by 3.1% during the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after acquiring an additional 20 shares in the last quarter. Phoenix Holdings Ltd. boosted its position in IDEXX Laboratories by 2.8% during the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after purchasing an additional 21 shares during the last quarter. BluePath Capital Management LLC grew its stake in IDEXX Laboratories by 1.8% in the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after purchasing an additional 21 shares in the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a report on Tuesday, January 30th. The Goldman Sachs Group boosted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays raised their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $479.57 on Tuesday. The stock has a market cap of $39.83 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 3.67 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The firm’s 50-day simple moving average is $536.30 and its 200 day simple moving average is $510.27.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same quarter last year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 in the last quarter. 2.18% of the stock is currently owned by corporate insiders.

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.