Trust Point Inc. Invests $228,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Trust Point Inc. acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 451 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors have also modified their holdings of the company. Riverview Trust Co purchased a new stake in IDEXX Laboratories during the first quarter worth approximately $26,000. Crewe Advisors LLC acquired a new stake in IDEXX Laboratories during the 1st quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories during the 2nd quarter worth $27,000. Institutional & Family Asset Management LLC acquired a new position in IDEXX Laboratories in the 2nd quarter worth $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in IDEXX Laboratories in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX stock opened at $457.74 on Friday. The stock’s fifty day moving average is $487.50 and its two-hundred day moving average is $491.55. The stock has a market capitalization of $37.80 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 4.14 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on IDXX shares. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Piper Sandler cut their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

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.