Factory Mutual Insurance Co. Acquires 14,200 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Factory Mutual Insurance Co. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,600 shares of the company’s stock after purchasing an additional 14,200 shares during the period. Factory Mutual Insurance Co. owned approximately 0.06% of IDEXX Laboratories worth $19,990,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IDXX. Norges Bank bought a new stake in IDEXX Laboratories in the fourth quarter worth $412,258,000. GAMMA Investing LLC increased its position in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock valued at $3,856,950,000 after acquiring an additional 916,898 shares during the period. Flossbach Von Storch SE increased its position in shares of IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after acquiring an additional 464,791 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of IDEXX Laboratories in the fourth quarter valued at about $156,412,000. Finally, William Blair Investment Management LLC increased its position in shares of IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after acquiring an additional 369,471 shares during the period. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Leerink Partners boosted their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a research report on Monday, May 19th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $546.00.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $522.70 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company’s 50-day moving average is $473.11 and its 200 day moving average is $444.45. The stock has a market capitalization of $42.04 billion, a P/E ratio of 48.99, a P/E/G ratio of 3.41 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million for the quarter, compared to analysts’ expectations of $998.25 million. During the same quarter in the previous year, the company earned $2.71 earnings per share. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,046 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total value of $537,372.04. Following the sale, the director now owns 262 shares in the company, valued at approximately $134,599.88. This represents a 79.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

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.