Creative Planning Raises Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Creative Planning lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,436 shares of the company’s stock after purchasing an additional 614 shares during the period. Creative Planning’s holdings in IDEXX Laboratories were worth $12,346,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in IDXX. Nordea Investment Management AB grew its stake in IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after acquiring an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in IDEXX Laboratories in the second quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. increased its holdings in 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 purchasing an additional 1,453 shares during the period. Vanguard Group Inc. raised its position in IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after purchasing an additional 98,387 shares in the last quarter. Finally, BNP Paribas purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth $1,031,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler decreased their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price target 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. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $453.38 on Tuesday. The firm’s fifty day simple moving average is $486.97 and its two-hundred day simple moving average is $490.87. The firm has a market capitalization of $37.44 billion, a P/E ratio of 43.89, a P/E/G ratio of 4.14 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $2.67 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal 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.