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

Manitou Investment Management Ltd. lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 491.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 52,202 shares of the company’s stock after buying an additional 43,369 shares during the period. IDEXX Laboratories makes up about 4.3% of Manitou Investment Management Ltd.’s portfolio, making the stock its 10th biggest holding. Manitou Investment Management Ltd.’s holdings in IDEXX Laboratories were worth $21,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. Sovereign Financial Group Inc. boosted its position in shares of IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after buying an additional 23 shares during the period. Mather Group LLC. lifted its position in IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after acquiring an additional 23 shares in the last quarter. Angeles Wealth Management LLC lifted its position in IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after acquiring an additional 25 shares in the last quarter. Cranbrook Wealth Management LLC boosted its holdings in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after acquiring an additional 25 shares during the period. Finally, First Horizon Advisors Inc. grew its position in IDEXX Laboratories by 4.0% in the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after acquiring an additional 27 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays decreased their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Finally, Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $523.86.

IDEXX Laboratories Trading Up 0.4 %

NASDAQ:IDXX opened at $432.34 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. 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 company has a market cap of $35.40 billion, a PE ratio of 41.69, a P/E/G ratio of 3.63 and a beta of 1.36. The business’s 50 day moving average is $423.28 and its two-hundred day moving average is $456.85.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the company posted $2.53 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Insider Buying and Selling

In other 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 transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Company 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.