Pine Haven Investment Counsel Inc Buys 80 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pine Haven Investment Counsel Inc grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,155 shares of the company’s stock after purchasing an additional 80 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in IDEXX Laboratories were worth $485,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IDXX. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock worth $948,279,000 after acquiring an additional 37,734 shares during the last quarter. Bamco Inc. NY boosted its holdings in IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after acquiring an additional 82,264 shares in the last quarter. Invesco Ltd. grew its position in IDEXX Laboratories by 6.8% in the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock valued at $479,999,000 after purchasing an additional 74,324 shares during the period. Norges Bank acquired a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $412,258,000. Finally, GAMMA Investing LLC increased its holdings in IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock worth $3,856,950,000 after purchasing an additional 916,898 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 0.5%

Shares of IDEXX Laboratories stock opened at $524.91 on Friday. The company has a 50 day simple moving average of $460.16 and a two-hundred day simple moving average of $440.73. The firm has a market cap of $42.21 billion, a PE ratio of 49.19, a PEG ratio of 3.41 and a beta of 1.55. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.71 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on IDXX. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus increased their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a report on Monday, May 19th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $536.00.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director now owns 1,801 shares of the company’s stock, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by 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.