Avanza Fonder AB Invests $2.69 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Avanza Fonder AB bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,502 shares of the company’s stock, valued at approximately $2,688,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after purchasing an additional 40,349 shares in the last quarter. Franklin Resources Inc. boosted its stake in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after buying an additional 34,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after acquiring an additional 2,463 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of IDEXX Laboratories by 52,746.0% during 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 acquiring an additional 527,460 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of IDEXX Laboratories by 265.6% during the fourth 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 period. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.18% of the company’s stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $419.26 on Friday. The business’s 50-day simple moving average is $423.88 and its 200 day simple moving average is $458.53. 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 stock has a market cap of $34.33 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39.

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

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent analyst reports. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report 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 report on Thursday, October 10th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $523.86.

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.