Factory Mutual Insurance Co. Invests $13.81 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Factory Mutual Insurance Co. bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 33,400 shares of the company’s stock, valued at approximately $13,809,000.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Algert Global LLC lifted its position in shares of IDEXX Laboratories by 70.0% during the second quarter. Algert Global LLC now owns 709 shares of the company’s stock worth $345,000 after purchasing an additional 292 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of IDEXX Laboratories by 14.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock valued at $1,031,000 after acquiring an additional 260 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of IDEXX Laboratories by 0.8% in the second quarter. Cetera Investment Advisers now owns 20,290 shares of the company’s stock valued at $9,885,000 after acquiring an additional 161 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of IDEXX Laboratories in the second quarter valued at about $1,363,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of IDEXX Laboratories by 8.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 361 shares of the company’s stock valued at $182,000 after acquiring an additional 29 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Barclays reduced their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $422.05 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm has a market capitalization of $34.56 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 3.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock’s 50-day simple moving average is $424.02 and its 200-day simple moving average is $454.59.

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