Pine Haven Investment Counsel Inc Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pine Haven Investment Counsel Inc raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,075 shares of the company’s stock after purchasing an additional 102 shares during the period. Pine Haven Investment Counsel Inc’s holdings in IDEXX Laboratories were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sovereign Financial Group Inc. increased its holdings in IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after buying an additional 23 shares during the last quarter. Mather Group LLC. boosted its position in shares of IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after acquiring an additional 23 shares in the last quarter. Angeles Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after acquiring an additional 25 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of IDEXX Laboratories by 7.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after acquiring an additional 25 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $419.26 on Monday. The stock’s 50-day moving average price is $423.60 and its 200 day moving average price is $458.00. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $34.33 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 3.52 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39.

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

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories 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 transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. JPMorgan Chase & Co. reduced 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 report on Friday, October 11th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Stifel Nicolaus dropped 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. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $523.86.

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.