Novem Group Acquires 681 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Novem Group lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 33.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,746 shares of the company’s stock after acquiring an additional 681 shares during the quarter. Novem Group’s holdings in IDEXX Laboratories were worth $1,153,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in IDEXX Laboratories by 10.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 635 shares of the company’s stock worth $262,000 after purchasing an additional 58 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of IDEXX Laboratories by 363.3% in the fourth quarter. SRS Capital Advisors Inc. now owns 366 shares of the company’s stock worth $151,000 after buying an additional 287 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $97,000. Schechter Investment Advisors LLC lifted its stake in shares of IDEXX Laboratories by 8.5% in the 4th quarter. Schechter Investment Advisors LLC now owns 496 shares of the company’s stock valued at $205,000 after acquiring an additional 39 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in IDEXX Laboratories by 9.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,436 shares of the company’s stock valued at $1,007,000 after acquiring an additional 218 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the sale, the director owned 1,801 shares in the company, valued at approximately $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of analyst reports. Leerink Partners lifted their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research note on Tuesday. They issued a “buy” rating and a $625.00 target price on the stock. Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a “hold” rating in a report on Wednesday. Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Morgan Stanley increased 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. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $558.11.

IDEXX Laboratories Trading Up 0.0%

Shares of IDXX opened at $542.71 on Thursday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $546.39. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $506.35 and its 200-day moving average price is $452.93. The firm has a market capitalization of $43.64 billion, a price-to-earnings ratio of 50.16, a PEG ratio of 3.96 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The business had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same period last year, the business posted $2.71 earnings per share. IDEXX Laboratories’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current 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.