Manitou Investment Management Ltd. Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Manitou Investment Management Ltd. lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,254 shares of the company's stock after buying an additional 4,052 shares during the period. IDEXX Laboratories makes up about 4.6% of Manitou Investment Management Ltd.'s investment portfolio, making the stock its 9th largest holding. Manitou Investment Management Ltd. owned about 0.07% of IDEXX Laboratories worth $23,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IDXX. Hurley Capital LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $29,000. Rialto Wealth Management LLC bought a new stake in IDEXX Laboratories during the fourth quarter worth approximately $30,000. Colonial Trust Co SC boosted its holdings in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares in the last quarter. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories in the fourth quarter worth approximately $38,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after buying an additional 81 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other 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 transaction of $645,548.40. Following the transaction, the director now owns 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Up 1.4%

IDXX stock traded up $7.33 during midday trading on Tuesday, reaching $525.93. The company had a trading volume of 402,495 shares, compared to its average volume of 649,462. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $42.30 billion, a P/E ratio of 49.29, a PEG ratio of 3.41 and a beta of 1.55. The company has a 50 day moving average of $462.00 and a two-hundred day moving average of $441.74.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the previous year, the company posted $2.71 earnings per share. The business's quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the subject of several research reports. Stifel Nicolaus raised their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday, May 19th. Piper Sandler boosted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $536.00.

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.