Investment Management Corp of Ontario Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Investment Management Corp of Ontario boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 28.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,463 shares of the company’s stock after acquiring an additional 773 shares during the period. Investment Management Corp of Ontario’s holdings in IDEXX Laboratories were worth $1,432,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock valued at $948,279,000 after buying an additional 37,734 shares during the period. Bamco Inc. NY increased its stake in IDEXX Laboratories by 4.3% during the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after acquiring an additional 82,264 shares during the last quarter. Invesco Ltd. increased its stake in IDEXX Laboratories by 6.8% during the fourth quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after acquiring an additional 74,324 shares during the last quarter. Norges Bank acquired a new stake in IDEXX Laboratories during the fourth quarter worth $412,258,000. Finally, Northern Trust Corp increased its stake in IDEXX Laboratories by 18.6% during the fourth quarter. Northern Trust Corp now owns 912,874 shares of the company’s stock worth $377,419,000 after acquiring an additional 143,369 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IDXX. Morgan Stanley raised their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America raised their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $524.75.

IDEXX Laboratories Stock Up 0.4%

IDXX opened at $491.70 on Monday. The business’s 50-day simple moving average is $423.31 and its 200-day simple moving average is $429.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The stock has a market capitalization of $39.54 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52.

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

IDEXX Laboratories 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.