Manitou Investment Management Ltd. Increases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Manitou Investment Management Ltd. grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,833 shares of the company’s stock after purchasing an additional 462 shares during the period. IDEXX Laboratories comprises about 0.8% of Manitou Investment Management Ltd.’s portfolio, making the stock its 18th largest holding. Manitou Investment Management Ltd.’s holdings in IDEXX Laboratories were worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in IDXX. International Assets Investment Management LLC increased its holdings in 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 worth $2,669,890,000 after buying an additional 527,460 shares during the last quarter. Clearbridge Investments LLC increased its holdings in IDEXX Laboratories by 696.0% during the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after buying an additional 308,493 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after buying an additional 213,731 shares during the last quarter. American Century Companies Inc. increased its holdings in IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in IDEXX Laboratories by 4,193.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after buying an additional 125,498 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $406.92 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The company has a market capitalization of $33.49 billion, a P/E ratio of 40.29, a P/E/G ratio of 3.94 and a beta of 1.33. The company has a fifty day moving average of $480.17 and a 200-day moving average of $487.66. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. reduced 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 report on Friday, October 11th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, BTIG Research began coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $574.13.

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.