E Fund Management Co. Ltd. Buys 101 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

E Fund Management Co. Ltd. lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,264 shares of the company’s stock after purchasing an additional 101 shares during the quarter. E Fund Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Valley National Advisers Inc. boosted its holdings in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares in the last quarter. OFI Invest Asset Management acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at $25,000. Venturi Wealth Management LLC grew its position in IDEXX Laboratories by 226.3% in the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares during the period. Geo Capital Gestora de Recursos Ltd bought a new stake in IDEXX Laboratories during the 3rd quarter valued at $28,000. Finally, Covestor Ltd raised its holdings in IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $3.39 on Wednesday, hitting $487.07. 604,652 shares of the stock were exchanged, compared to its average volume of 443,867. The firm’s 50 day moving average is $519.60 and its two-hundred day moving average is $514.34. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The firm has a market capitalization of $40.23 billion, a PE ratio of 47.15, a P/E/G ratio of 3.78 and a beta of 1.27. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current fiscal year.

Insider Activity at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on IDXX shares. Barclays lowered their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $580.88.

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.