Norges Bank Takes $412.26 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Norges Bank bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, Holdings Channel reports. The firm bought 997,140 shares of the company’s stock, valued at approximately $412,258,000.

Several other institutional investors also recently bought and sold shares of IDXX. Cerity Partners LLC grew its holdings in shares of IDEXX Laboratories by 25.2% in the third quarter. Cerity Partners LLC now owns 10,924 shares of the company’s stock valued at $5,519,000 after purchasing an additional 2,202 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the third quarter worth $507,000. Centaurus Financial Inc. purchased a new stake in shares of IDEXX Laboratories during the third quarter worth $115,000. FMR LLC raised its stake in shares of IDEXX Laboratories by 3.6% in the third quarter. FMR LLC now owns 290,861 shares of the company’s stock valued at $146,949,000 after acquiring an additional 10,017 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in IDEXX Laboratories by 9.5% in the third quarter. D.A. Davidson & CO. now owns 1,629 shares of the company’s stock valued at $823,000 after purchasing an additional 142 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 1.6 %

IDXX opened at $415.87 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The business’s 50 day moving average is $437.07 and its two-hundred day moving average is $443.27. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39.

Analysts Set New Price Targets

Several brokerages have weighed in on IDXX. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $533.75.

Insider Buying and Selling

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 directly owns 8,176 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

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.