Occudo Quantitative Strategies LP Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Occudo Quantitative Strategies LP purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 767 shares of the company’s stock, valued at approximately $317,000.

Several other large investors have also recently made changes to their positions in IDXX. Norges Bank purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $412,258,000. Flossbach Von Storch SE raised its stake in shares of IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after acquiring an additional 464,791 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $156,412,000. William Blair Investment Management LLC raised its stake in shares of IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after acquiring an additional 369,471 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of IDEXX Laboratories by 221.3% during the fourth quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company’s stock worth $182,459,000 after acquiring an additional 303,966 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $518.10 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $545.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company’s 50-day moving average is $431.28 and its 200 day moving average is $431.42. The stock has a market capitalization of $41.67 billion, a P/E ratio of 48.56, a P/E/G ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million for 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. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley raised their target price 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. Bank of America lifted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler lifted their target price 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. Three 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.75.

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.