Brown Brothers Harriman & Co. Acquires 31 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Brown Brothers Harriman & Co. raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 743 shares of the company’s stock after acquiring an additional 31 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in IDEXX Laboratories were worth $375,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IDXX. B. Riley Wealth Advisors Inc. grew its stake in shares of IDEXX Laboratories by 35.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,879 shares of the company’s stock worth $1,015,000 after acquiring an additional 495 shares in the last quarter. Tidal Investments LLC grew its stake in shares of IDEXX Laboratories by 71.4% during the 1st quarter. Tidal Investments LLC now owns 4,373 shares of the company’s stock worth $2,361,000 after acquiring an additional 1,821 shares in the last quarter. Comerica Bank grew its stake in shares of IDEXX Laboratories by 2.0% during the 1st quarter. Comerica Bank now owns 29,041 shares of the company’s stock worth $15,681,000 after acquiring an additional 577 shares in the last quarter. Hancock Whitney Corp acquired a new stake in shares of IDEXX Laboratories in the 1st quarter valued at approximately $220,000. Finally, Plato Investment Management Ltd boosted its holdings in shares of IDEXX Laboratories by 1,675.3% in the 1st quarter. Plato Investment Management Ltd now owns 1,509 shares of the company’s stock valued at $815,000 after buying an additional 1,424 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IDXX. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays cut their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Stifel Nicolaus cut their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $421.76 on Thursday. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The business’s 50 day moving average price is $455.52 and its two-hundred day moving average price is $479.07. The firm has a market cap of $34.54 billion, a PE ratio of 40.67, a price-to-earnings-growth ratio of 3.74 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million during 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 company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.53 earnings per share. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 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.