RIA Advisory Group LLC Purchases New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

RIA Advisory Group LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 442 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after acquiring an additional 527,460 shares during the period. Clearbridge Investments LLC lifted its position in IDEXX Laboratories by 696.0% during the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after purchasing an additional 308,493 shares during the period. Vontobel Holding Ltd. grew its position in shares of IDEXX Laboratories by 3,325.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after buying an additional 213,731 shares during the period. American Century Companies Inc. grew its position in shares of IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in shares of IDEXX Laboratories by 4,193.1% during the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after buying an additional 125,498 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on IDXX shares. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Down 0.6 %

IDEXX Laboratories stock opened at $420.91 on Friday. The company has a market cap of $34.47 billion, a P/E ratio of 40.59, a price-to-earnings-growth ratio of 3.67 and a beta of 1.36. The company has a fifty day simple moving average of $468.32 and a 200 day simple moving average of $482.73. 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 1-year low of $404.74 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 earnings per share. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share 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.