Norden Group LLC Makes New $2.45 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Norden Group LLC acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,537 shares of the company’s stock, valued at approximately $2,450,000.

A number of other hedge funds have also recently modified their holdings of IDXX. Valley National Advisers Inc. increased its position 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. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories in the first quarter worth $26,000. DSM Capital Partners LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter worth $33,000. Private Wealth Management Group LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $34,000. Finally, Venturi Wealth Management LLC raised its position in shares of IDEXX Laboratories by 226.3% in the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $477.49 on Friday. The firm has a market cap of $39.44 billion, a PE ratio of 46.22, a P/E/G ratio of 3.90 and a beta of 1.32. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $500.85 and a two-hundred day simple moving average of $525.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on IDXX. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Morgan Stanley reduced their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Barclays lowered their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $586.63.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.18% of the company’s stock.

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.