Manitou Investment Management Ltd. Has $4.46 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Manitou Investment Management Ltd. raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,833 shares of the company’s stock after buying an additional 462 shares during the period. IDEXX Laboratories accounts for about 0.8% of Manitou Investment Management Ltd.’s portfolio, making the stock its 18th largest holding. Manitou Investment Management Ltd.’s holdings in IDEXX Laboratories were worth $4,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after acquiring an additional 1,839 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $20,418,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of IDEXX Laboratories by 13.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the period. Vanguard Group Inc. boosted its holdings in shares of IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares during the period. Finally, BNP Paribas bought a new stake in shares of IDEXX Laboratories during the 1st quarter worth about $1,031,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 9.8 %

Shares of NASDAQ IDXX opened at $406.92 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The firm has a 50 day moving average price of $480.17 and a two-hundred day moving average price of $487.66. The stock has a market cap of $33.49 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period in the prior year, the firm posted $2.53 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on IDXX. Piper Sandler reduced their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. BTIG Research started coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $574.13.

IDEXX Laboratories 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.