Bennett Selby Investments LP Takes $203,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bennett Selby Investments LP purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 490 shares of the company’s stock, valued at approximately $203,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in IDEXX Laboratories by 750.0% in the third 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 period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in IDEXX Laboratories in the second quarter valued at about $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IDXX. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $523.86.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction dated 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 $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $435.33 on Friday. The stock has a market capitalization of $35.65 billion, a price-to-earnings ratio of 41.98, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The stock’s fifty day simple moving average is $423.45 and its 200-day simple moving average is $456.68.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the company earned $2.53 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current 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.