IDEXX Laboratories, Inc. (NASDAQ:IDXX) Position Boosted by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 182.8% during the 4th quarter, Holdings Channel reports. The fund owned 164 shares of the company’s stock after acquiring an additional 106 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in IDEXX Laboratories were worth $68,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after purchasing an additional 527,460 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after acquiring an additional 308,493 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $113,104,000. Finally, Vontobel Holding Ltd. lifted its position in IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after purchasing an additional 213,731 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $523.86.

IDEXX Laboratories Price Performance

IDXX stock opened at $435.33 on Monday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The firm has a 50-day moving average of $423.74 and a two-hundred day moving average of $456.20. The firm has a market capitalization of $35.65 billion, a PE ratio of 41.98, a P/E/G ratio of 3.63 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the prior year, the firm earned $2.53 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.11% of the stock is currently owned by insiders.

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.