Deutsche Bank AG Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Deutsche Bank AG grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 357,479 shares of the company’s stock after purchasing an additional 54,360 shares during the period. Deutsche Bank AG’s holdings in IDEXX Laboratories were worth $147,796,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Hurley Capital LLC purchased a new position in IDEXX Laboratories during the fourth quarter valued at $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories in the 4th quarter worth about $31,000. Colonial Trust Co SC boosted its stake in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at about $38,000. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Morgan Stanley lifted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday. Bank of America increased 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, Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $524.75.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $491.70 on Friday. The company has a 50-day moving average price of $423.31 and a 200-day moving average price of $429.16. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $548.88. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $39.85 billion, a P/E ratio of 46.08, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The business had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 earnings per share. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.