Novem Group Buys New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Novem Group purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,065 shares of the company’s stock, valued at approximately $854,000.

A number of other institutional investors also recently bought and sold shares of the business. Hantz Financial Services Inc. raised its holdings in shares of IDEXX Laboratories by 11.5% during the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock worth $3,199,000 after purchasing an additional 800 shares during the last quarter. Paragon Capital Management Inc. grew its position in IDEXX Laboratories by 25.7% during the 4th quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company’s stock worth $1,579,000 after purchasing an additional 782 shares during the period. Manitou Investment Management Ltd. raised its stake in shares of IDEXX Laboratories by 491.0% during the 4th quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company’s stock valued at $21,582,000 after buying an additional 43,369 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of IDEXX Laboratories by 12.3% in the 4th quarter. Fiera Capital Corp now owns 141,198 shares of the company’s stock valued at $58,377,000 after buying an additional 15,463 shares during the period. Finally, Lecap Asset Management Ltd. boosted its stake in shares of IDEXX Laboratories by 587.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 5,701 shares of the company’s stock worth $2,357,000 after buying an additional 4,872 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IDXX shares. Stifel Nicolaus lifted their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a research report on Monday. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America lifted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Barclays lifted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $536.00.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $500.87 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a fifty day moving average of $437.40 and a 200 day moving average of $433.24. The firm has a market cap of $40.28 billion, a PE ratio of 46.94, a PEG ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $530.60.

IDEXX Laboratories (NASDAQ:IDXX) last released 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. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The business had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. During the same quarter in the previous year, the company earned $2.71 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS 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.