Cape Cod Five Cents Savings Bank Acquires 32 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cape Cod Five Cents Savings Bank grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,344 shares of the company’s stock after acquiring an additional 32 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in IDEXX Laboratories were worth $3,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IDXX. Y Intercept Hong Kong Ltd bought a new position in IDEXX Laboratories in the 3rd quarter valued at approximately $1,263,000. Orion Portfolio Solutions LLC increased its holdings in shares of IDEXX Laboratories by 16.4% during the third quarter. Orion Portfolio Solutions LLC now owns 4,152 shares of the company’s stock worth $2,098,000 after buying an additional 584 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of IDEXX Laboratories by 98.3% in the 3rd quarter. National Bank of Canada FI now owns 62,436 shares of the company’s stock valued at $31,544,000 after acquiring an additional 30,952 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of IDEXX Laboratories by 5.8% during the 3rd quarter. iA Global Asset Management Inc. now owns 11,605 shares of the company’s stock valued at $5,863,000 after acquiring an additional 641 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in IDEXX Laboratories by 148.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 60,279 shares of the company’s stock worth $29,812,000 after acquiring an additional 35,972 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IDXX. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus reduced their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $539.63.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $435.69 on Monday. The company has a market cap of $35.68 billion, a P/E ratio of 42.01, a PEG ratio of 3.98 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $444.47 and a two-hundred day moving average price of $473.85. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

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