Nordea Investment Management AB Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nordea Investment Management AB raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,409 shares of the company’s stock after buying an additional 334 shares during the quarter. Nordea Investment Management AB’s holdings in IDEXX Laboratories were worth $2,658,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth about $37,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 3.3 %

Shares of IDXX stock opened at $418.05 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market cap of $34.23 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 3.94 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The firm has a fifty day moving average price of $423.76 and a 200-day moving average price of $460.18.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDXX. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $539.63.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.11% of the stock is currently owned by corporate insiders.

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.