Public Sector Pension Investment Board Buys 500 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Public Sector Pension Investment Board lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,578 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Public Sector Pension Investment Board’s holdings in IDEXX Laboratories were worth $1,808,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC grew its holdings in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after purchasing an additional 96 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in IDEXX Laboratories by 13.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after buying an additional 1,453 shares during the last quarter. National Pension Service raised its holdings in IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after acquiring an additional 12,647 shares during the period. EFG Asset Management Americas Corp. lifted its position in IDEXX Laboratories by 45.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after acquiring an additional 3,966 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in IDEXX Laboratories by 17,238.5% during the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock valued at $1,139,000 after acquiring an additional 2,241 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IDXX shares. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 price objective on the stock. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday. Piper Sandler restated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Barclays decreased their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $546.56.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale 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.

IDEXX Laboratories Stock Down 1.6 %

Shares of IDXX opened at $427.49 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The stock has a market cap of $35.01 billion, a price-to-earnings ratio of 41.22, a P/E/G ratio of 3.95 and a beta of 1.37. The company has a 50-day moving average price of $445.99 and a two-hundred day moving average price of $475.13. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 earnings per share. Equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

IDEXX Laboratories Company 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.