Harvest Fund Management Co. Ltd Purchases 502 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Harvest Fund Management Co. Ltd lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 54.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,416 shares of the company’s stock after acquiring an additional 502 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in IDEXX Laboratories were worth $786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IDXX. International Assets Investment Management LLC grew its stake in shares of IDEXX Laboratories by 51,631.3% in the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after acquiring an additional 546,775 shares in the last quarter. Winslow Capital Management LLC grew its position in IDEXX Laboratories by 24.9% during the third quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock valued at $301,661,000 after buying an additional 137,621 shares during the period. Barclays PLC grew its position in IDEXX Laboratories by 46.7% during the third quarter. Barclays PLC now owns 248,476 shares of the company’s stock valued at $108,651,000 after buying an additional 79,102 shares during the period. abrdn plc grew its position in IDEXX Laboratories by 46.5% during the fourth quarter. abrdn plc now owns 246,130 shares of the company’s stock valued at $136,614,000 after buying an additional 78,166 shares during the period. Finally, Ameriprise Financial Inc. grew its position in IDEXX Laboratories by 51.3% during the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock valued at $98,353,000 after buying an additional 76,350 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $14.23 on Tuesday, reaching $493.80. The stock had a trading volume of 558,366 shares, compared to its average volume of 430,752. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market cap of $41.01 billion, a P/E ratio of 49.04, a price-to-earnings-growth ratio of 3.67 and a beta of 1.26. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The business’s 50 day moving average is $535.07 and its two-hundred day moving average is $510.61.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The firm had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the transaction, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 over the last three months. 2.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IDXX. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Barclays increased their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a report on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $591.50.

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.