Perbak Capital Partners LLP Buys New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Perbak Capital Partners LLP bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 7,022 shares of the company's stock, valued at approximately $2,903,000. IDEXX Laboratories comprises 1.6% of Perbak Capital Partners LLP's portfolio, making the stock its 15th largest position.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $412,258,000. Flossbach Von Storch SE lifted its position in shares of IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock valued at $195,696,000 after acquiring an additional 464,791 shares in the last quarter. William Blair Investment Management LLC boosted its stake in IDEXX Laboratories by 701.6% during the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock worth $174,527,000 after purchasing an additional 369,471 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock valued at $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Finally, Seilern Investment Management Ltd acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $113,104,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded up $0.52 during mid-day trading on Friday, hitting $471.90. The company's stock had a trading volume of 1,030,920 shares, compared to its average volume of 641,908. The firm has a market capitalization of $38.24 billion, a P/E ratio of 44.23, a P/E/G ratio of 3.41 and a beta of 1.50. The firm has a 50-day simple moving average of $419.26 and a 200 day simple moving average of $428.28. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

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, beating the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 earnings per share. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares of the company's stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent analyst reports. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a report on Monday, April 14th. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, Morgan Stanley reduced their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus price target of $523.75.

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.