Novem Group Takes $854,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Novem Group acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,065 shares of the company's stock, valued at approximately $854,000.

Other large investors also recently bought and sold shares of the company. Hurley Capital LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $30,000. Colonial Trust Co SC grew its stake in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares during the period. Kestra Investment Management LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $38,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after acquiring an additional 81 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday. Piper Sandler boosted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Bank of America boosted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley boosted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $536.00.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded down $3.26 during trading on Friday, hitting $501.57. The stock had a trading volume of 443,606 shares, compared to its average volume of 651,454. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.60. The stock has a market capitalization of $40.34 billion, a price-to-earnings ratio of 47.01, a price-to-earnings-growth 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. The stock has a 50-day simple moving average of $440.69 and a two-hundred day simple moving average of $434.53.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million during the quarter, compared to analysts' expectations 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 for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $2.71 earnings per share. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.