Quantbot Technologies LP bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 675 shares of the company’s stock, valued at approximately $341,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Eads & Heald Wealth Management lifted its holdings in IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after purchasing an additional 22 shares in the last quarter. LRI Investments LLC lifted its stake in IDEXX Laboratories by 21.7% in the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after purchasing an additional 23 shares in the last quarter. Sovereign Financial Group Inc. boosted its holdings in shares of IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares during the last quarter. Mather Group LLC. grew its position in shares of IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after purchasing an additional 23 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on IDXX. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 price target on the stock. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Stifel Nicolaus decreased their price target 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. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $546.56.
Insider Transactions at IDEXX Laboratories
In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.18% of the company’s stock.
IDEXX Laboratories Price Performance
Shares of IDXX opened at $432.11 on Wednesday. The firm has a market capitalization of $35.39 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 3.76 and a beta of 1.37. The firm’s fifty day simple moving average is $448.89 and its 200-day simple moving average is $475.75. 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, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39.
IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last released 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. The business had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.53 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.
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.
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