Mediolanum International Funds Ltd Purchases 12,201 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mediolanum International Funds Ltd increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 44.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,470 shares of the company’s stock after purchasing an additional 12,201 shares during the period. Mediolanum International Funds Ltd’s holdings in IDEXX Laboratories were worth $16,251,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares during the period. Assenagon Asset Management S.A. boosted its holdings 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 during the period. Seilern Investment Management Ltd bought a new position in IDEXX Laboratories in the 4th quarter valued at $113,104,000. Vontobel Holding Ltd. increased its stake in IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after purchasing an additional 213,731 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of IDEXX Laboratories during the second quarter worth $47,542,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Up 1.3 %

Shares of NASDAQ IDXX opened at $423.99 on Friday. The stock has a market capitalization of $34.72 billion, a PE ratio of 40.89, a price-to-earnings-growth ratio of 3.60 and a beta of 1.36. 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 12-month low of $398.50 and a 12-month high of $583.39. The stock’s fifty day simple moving average is $423.93 and its two-hundred day simple moving average is $454.80.

IDEXX Laboratories (NASDAQ:IDXX) last posted its 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 company 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 firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 earnings per share. As a group, analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IDXX shares. Morgan Stanley cut their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday. Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on shares of 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 reiterated a “neutral” rating and issued 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 investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $517.29.

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.