RDA Financial Network Acquires 357 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

RDA Financial Network lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,771 shares of the company’s stock after purchasing an additional 357 shares during the period. RDA Financial Network’s holdings in IDEXX Laboratories were worth $895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Clearbridge Investments LLC lifted its position in shares of IDEXX Laboratories by 696.0% during the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after purchasing an additional 308,493 shares in the last quarter. American Century Companies Inc. boosted its position in IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after buying an additional 177,226 shares during the last quarter. 1832 Asset Management L.P. increased its stake in shares of IDEXX Laboratories by 4,193.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock valued at $62,601,000 after buying an additional 125,498 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of IDEXX Laboratories during the first quarter worth $55,425,000. Finally, Vanguard Group Inc. raised its position in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after acquiring an additional 98,387 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

IDEXX Laboratories Stock Down 0.5 %

Shares of IDXX stock traded down $2.59 on Tuesday, hitting $475.41. 282,707 shares of the stock were exchanged, compared to its average volume of 466,428. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $39.26 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The business has a 50-day moving average of $488.46 and a 200 day moving average of $493.17.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.67 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

About IDEXX Laboratories

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.