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

Novem Group purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,065 shares of the company's stock, valued at approximately $854,000.

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A number of other hedge funds have also recently made changes to their positions in the stock. Hurley Capital LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at $30,000. Colonial Trust Co SC raised its holdings in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $38,000. Finally, Itau Unibanco Holding S.A. lifted its stake in IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IDXX shares. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Bank of America upped their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus lifted their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $536.00.

View Our Latest Analysis on IDXX

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $500.87 on Thursday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $530.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market capitalization of $40.28 billion, a price-to-earnings ratio of 46.94, a PEG ratio of 3.41 and a beta of 1.52. The stock's 50-day simple moving average is $437.40 and its 200-day simple moving average is $433.24.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. The company 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%. IDEXX Laboratories's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

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.

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