D.A. Davidson & CO. Increases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

D.A. Davidson & CO. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,629 shares of the company’s stock after buying an additional 142 shares during the period. D.A. Davidson & CO.’s holdings in IDEXX Laboratories were worth $823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories in the second quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. raised its position in IDEXX Laboratories by 5,700.0% in the third 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 period. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 750.0% in 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. Strategic Investment Solutions Inc. IL purchased a new position in shares of IDEXX Laboratories during the 2nd quarter worth $36,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth about $37,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $430.77 on Tuesday. The business’s 50-day moving average is $451.91 and its two-hundred day moving average is $477.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The firm has a market capitalization of $35.28 billion, a P/E ratio of 41.54, a P/E/G ratio of 3.68 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share 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 firm had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter last year, the company earned $2.53 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. Analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday. They set an “outperform” rating and a $500.00 price objective for the company. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $546.56.

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.