Meeder Asset Management Inc. Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Meeder Asset Management Inc. increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 616.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 179 shares of the company’s stock after buying an additional 154 shares during the quarter. Meeder Asset Management Inc.’s holdings in IDEXX Laboratories were worth $90,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Crewe Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 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 analysts have commented on the company. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Finally, Barclays lowered their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Three equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $418.61 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $464.08 and a two-hundred day simple moving average of $481.54. The stock has a market cap of $34.28 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 3.67 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.53 earnings per share. On average, analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

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.