National Bank of Canada FI Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

National Bank of Canada FI grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,028 shares of the company’s stock after purchasing an additional 10,592 shares during the quarter. National Bank of Canada FI owned approximately 0.09% of IDEXX Laboratories worth $30,193,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of IDXX. B. Metzler seel. Sohn & Co. AG boosted its holdings in IDEXX Laboratories by 57.6% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 14,557 shares of the company’s stock worth $6,018,000 after acquiring an additional 5,322 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of IDEXX Laboratories by 161.2% during the fourth quarter. Wellington Management Group LLP now owns 195,369 shares of the company’s stock valued at $80,773,000 after purchasing an additional 120,558 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in IDEXX Laboratories by 6.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 142,192 shares of the company’s stock worth $58,788,000 after purchasing an additional 8,617 shares during the last quarter. Tsai Capital Corp grew its position in IDEXX Laboratories by 52.2% in the 4th quarter. Tsai Capital Corp now owns 8,797 shares of the company’s stock worth $3,637,000 after purchasing an additional 3,016 shares in the last quarter. Finally, Allstate Corp purchased a new stake in IDEXX Laboratories in the 4th quarter valued at about $1,009,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on IDXX. Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Bank of America boosted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $426.25 on Thursday. The firm’s 50 day moving average is $436.82 and its 200 day moving average is $441.34. The stock has a market capitalization of $34.55 billion, a P/E ratio of 39.95, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the transaction, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

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.