997,140 Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX) Bought by Norges Bank

Norges Bank purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 997,140 shares of the company’s stock, valued at approximately $412,258,000. Norges Bank owned about 1.22% of IDEXX Laboratories as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Insight Wealth Strategies LLC boosted its stake in shares of IDEXX Laboratories by 230.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after buying an additional 7,041 shares during the last quarter. Geode Capital Management LLC boosted its position in IDEXX Laboratories by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after purchasing an additional 40,349 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth approximately $1,263,000. Sax Wealth Advisors LLC increased its holdings in shares of IDEXX Laboratories by 76.3% during the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after purchasing an additional 617 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock valued at $3,199,000 after purchasing an additional 800 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IDXX shares. Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley lowered their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Bank of America boosted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the transaction, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 1.6 %

Shares of IDXX opened at $415.87 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88. The stock has a market cap of $33.71 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The firm’s fifty day moving average is $437.07 and its two-hundred day moving average is $443.27. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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.