Forsta AP Fonden Buys 100 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Forsta AP Fonden increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,700 shares of the company’s stock after purchasing an additional 100 shares during the period. Forsta AP Fonden’s holdings in IDEXX Laboratories were worth $13,519,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IDXX. Algert Global LLC raised its position in IDEXX Laboratories by 70.0% in the 2nd quarter. Algert Global LLC now owns 709 shares of the company’s stock worth $345,000 after purchasing an additional 292 shares during the last quarter. NewEdge Advisors LLC raised its position in IDEXX Laboratories by 36.4% in the 2nd quarter. NewEdge Advisors LLC now owns 9,400 shares of the company’s stock worth $4,580,000 after purchasing an additional 2,506 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in IDEXX Laboratories by 14.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,118 shares of the company’s stock worth $1,031,000 after purchasing an additional 260 shares during the last quarter. Quarry LP raised its position in IDEXX Laboratories by 170.8% in the 2nd quarter. Quarry LP now owns 176 shares of the company’s stock worth $86,000 after purchasing an additional 111 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in IDEXX Laboratories by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 20,290 shares of the company’s stock worth $9,885,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IDXX. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. 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. Finally, Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $517.29.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $418.75 on Thursday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The firm has a market capitalization of $34.29 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $423.92 and a 200-day moving average of $455.05.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’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 directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.11% of the company’s stock.

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.