Harvest Fund Management Co. Ltd Raises Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Harvest Fund Management Co. Ltd increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 54.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,416 shares of the company’s stock after acquiring an additional 502 shares during the period. Harvest Fund Management Co. Ltd’s holdings in IDEXX Laboratories were worth $786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IDXX. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories during the third quarter worth about $25,000. Valley National Advisers Inc. grew its holdings in IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd purchased a new position in IDEXX Laboratories during the 3rd quarter valued at approximately $28,000. Covestor Ltd lifted its stake in shares of IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of IDEXX Laboratories by 108.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IDXX shares. The Goldman Sachs Group raised their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays lifted their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Stock Performance

IDXX traded up $14.23 on Tuesday, reaching $493.80. 558,366 shares of the stock were exchanged, compared to its average volume of 430,752. The company’s 50-day moving average price is $535.07 and its 200 day moving average price is $510.61. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The firm has a market capitalization of $41.01 billion, a PE ratio of 49.04, a PEG ratio of 3.67 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Company 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.