Bridgefront Capital LLC Acquires Shares of 1,025 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bridgefront Capital LLC purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,025 shares of the company's stock, valued at approximately $424,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after purchasing an additional 37,734 shares during the last quarter. Bamco Inc. NY increased its holdings in IDEXX Laboratories by 4.3% in the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock worth $829,163,000 after buying an additional 82,264 shares in the last quarter. Invesco Ltd. raised 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 worth $479,999,000 after buying an additional 74,324 shares during the last quarter. Norges Bank bought a new position in IDEXX Laboratories during the 4th quarter valued at about $412,258,000. Finally, Northern Trust Corp boosted its holdings in shares of IDEXX Laboratories by 18.6% during the 4th quarter. Northern Trust Corp now owns 912,874 shares of the company's stock valued at $377,419,000 after acquiring an additional 143,369 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX traded up $1.72 on Friday, reaching $491.70. 668,502 shares of the company's stock traded hands, compared to its average volume of 649,272. The stock has a 50-day simple moving average of $423.31 and a 200-day simple moving average of $429.36. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $548.88. The firm has a market cap of $39.85 billion, a PE ratio of 46.08, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its 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 return on equity of 55.82% and a net margin of 22.78%. The company had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter last year, the company earned $2.71 EPS. The firm's quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Friday. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a report on Monday, April 14th. Morgan Stanley increased their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $524.75.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares of the company's stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by corporate insiders.

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.