FORA Capital LLC Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

FORA Capital LLC grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 229.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,129 shares of the company's stock after buying an additional 2,877 shares during the period. FORA Capital LLC's holdings in IDEXX Laboratories were worth $2,086,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price 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. Barclays dropped their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Piper Sandler restated a "neutral" rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $552.38.

IDEXX Laboratories Trading Up 1.1 %

Shares of IDEXX Laboratories stock traded up $4.44 during trading on Thursday, hitting $421.76. The stock had a trading volume of 486,187 shares, compared to its average volume of 506,477. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The stock has a market cap of $34.54 billion, a PE ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. The firm's fifty day simple moving average is $455.52 and its 200-day simple moving average is $479.07.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $2.80 EPS 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 firm had revenue of $975.50 million for the quarter, compared to analysts' expectations of $980.32 million. During the same quarter in the prior year, the firm posted $2.53 earnings per share. The company's quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal 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.