Seilern Investment Management Ltd Purchases New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Seilern Investment Management Ltd acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 273,567 shares of the company’s stock, valued at approximately $113,104,000. IDEXX Laboratories makes up approximately 6.4% of Seilern Investment Management Ltd’s holdings, making the stock its 5th largest position. Seilern Investment Management Ltd owned about 0.33% of IDEXX Laboratories at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its stake in IDEXX Laboratories by 4.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,295 shares of the company’s stock valued at $2,039,000 after acquiring an additional 176 shares during the period. Ieq Capital LLC lifted its holdings in IDEXX Laboratories by 4.7% during the second quarter. Ieq Capital LLC now owns 7,551 shares of the company’s stock valued at $3,679,000 after purchasing an additional 342 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in IDEXX Laboratories by 2.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,657 shares of the company’s stock valued at $807,000 after purchasing an additional 45 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of IDEXX Laboratories by 4.8% in the second quarter. Canada Pension Plan Investment Board now owns 130,350 shares of the company’s stock valued at $63,507,000 after purchasing an additional 5,911 shares during the period. Finally, Bridges Investment Management Inc. purchased a new stake in shares of IDEXX Laboratories during the second quarter worth about $255,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $523.86.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Trading Down 2.2 %

Shares of IDXX stock opened at $419.26 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The company’s 50-day moving average price is $423.60 and its 200-day moving average price is $458.00. The stock has a market cap of $34.33 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 3.52 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.53 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

IDEXX Laboratories 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.