New England Research & Management Inc. Has $866,000 Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

New England Research & Management Inc. grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 51.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,095 shares of the company’s stock after purchasing an additional 715 shares during the period. New England Research & Management Inc.’s holdings in IDEXX Laboratories were worth $866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its position in shares of IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after buying an additional 96 shares during the last quarter. National Pension Service lifted 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 purchasing an additional 12,647 shares during the last quarter. Insight Wealth Strategies LLC grew its holdings in IDEXX Laboratories by 230.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock valued at $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Larson Financial Group LLC grew its stake in IDEXX Laboratories by 17,238.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock valued at $1,139,000 after buying an additional 2,241 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of IDEXX Laboratories by 4,059.4% in the third quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock valued at $1,450,000 after purchasing an additional 2,801 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IDXX shares. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Finally, Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

IDEXX Laboratories Stock Up 0.2 %

Shares of IDXX opened at $418.75 on Thursday. The firm has a market capitalization of $34.29 billion, a price-to-earnings ratio of 40.38, a PEG ratio of 3.63 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The business’s fifty day moving average price is $423.92 and its two-hundred day moving average price is $455.05.

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

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.11% of the stock is currently owned by company 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.