IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,230 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in IDEXX Laboratories were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Patron Partners LLC increased its position in IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after buying an additional 20 shares during the period. NewEdge Wealth LLC lifted its position in IDEXX Laboratories by 3.1% in the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after purchasing an additional 20 shares during the last quarter. Phoenix Holdings Ltd. increased its stake in shares of IDEXX Laboratories by 2.8% in the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after purchasing an additional 21 shares during the period. BluePath Capital Management LLC raised its holdings in shares of IDEXX Laboratories by 1.8% during the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after buying an additional 21 shares during the last quarter. Finally, Valley National Advisers Inc. boosted its position in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after buying an additional 22 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on IDXX shares. 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 report on Tuesday, January 30th. Barclays increased their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group lifted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $492.76 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The stock has a market capitalization of $40.92 billion, a P/E ratio of 48.93, a P/E/G ratio of 3.90 and a beta of 1.26. The business’s fifty day moving average is $528.85 and its two-hundred day moving average is $512.64. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share 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 firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter last year, the business posted $2.05 EPS. IDEXX Laboratories’s revenue was up 8.8% on a year-over-year basis. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 11.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.18% 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.