Thompson Investment Management Inc. Acquires Shares of 750 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Thompson Investment Management Inc. acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 750 shares of the company’s stock, valued at approximately $310,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP increased its position in IDEXX Laboratories by 69.7% during the 4th quarter. Entropy Technologies LP now owns 5,500 shares of the company’s stock worth $2,274,000 after purchasing an additional 2,259 shares during the period. Empowered Funds LLC grew its holdings in IDEXX Laboratories by 10.2% during the fourth quarter. Empowered Funds LLC now owns 1,443 shares of the company’s stock worth $597,000 after acquiring an additional 133 shares during the period. Moloney Securities Asset Management LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $374,000. Lecap Asset Management Ltd. lifted its holdings in IDEXX Laboratories by 587.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 5,701 shares of the company’s stock valued at $2,357,000 after acquiring an additional 4,872 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in IDEXX Laboratories by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 198,450 shares of the company’s stock valued at $82,047,000 after acquiring an additional 916 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Piper Sandler reaffirmed 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. Bank of America boosted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley dropped their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Barclays lifted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $524.38.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $459.78 on Monday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a market capitalization of $37.65 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 3.47 and a beta of 1.37. The stock has a fifty day moving average of $428.35 and a two-hundred day moving average of $453.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.31.

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.