Entropy Technologies LP Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Entropy Technologies LP acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,241 shares of the company's stock, valued at approximately $1,637,000.

Several other institutional investors also recently modified their holdings of IDXX. Chicago Partners Investment Group LLC increased its position in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company's stock worth $340,000 after buying an additional 96 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of IDEXX Laboratories in the second quarter valued at $20,418,000. Oppenheimer Asset Management Inc. lifted its position in IDEXX Laboratories by 13.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company's stock worth $5,825,000 after acquiring an additional 1,453 shares during the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 98,387 shares during the period. Finally, National Pension Service boosted its stake in IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company's stock valued at $93,957,000 after purchasing an additional 12,647 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 0.9 %

Shares of NASDAQ:IDXX traded up $3.89 during midday trading on Wednesday, hitting $430.00. 255,092 shares of the stock were exchanged, compared to its average volume of 499,032. IDEXX Laboratories, Inc. has a 12 month low of $404.74 and a 12 month 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 stock has a market capitalization of $35.21 billion, a price-to-earnings ratio of 41.63, a P/E/G ratio of 3.72 and a beta of 1.36. The business's 50-day moving average price is $471.09 and its 200 day moving average price is $484.18.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the prior year, the business posted $2.53 earnings per share. IDEXX Laboratories's quarterly revenue was up 6.6% on a year-over-year basis. Analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent research reports. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a "buy" rating and a $580.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Thursday, October 10th. Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler restated a "neutral" rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. 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 a consensus price target of $552.38.

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.