Victory Capital Management Inc. increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,628 shares of the company's stock after purchasing an additional 4,696 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of IDEXX Laboratories worth $72,059,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC bought a new position in IDEXX Laboratories in the 1st quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. lifted its position in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock valued at $29,000 after purchasing an additional 57 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target 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. Piper Sandler reissued a "neutral" rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays reduced their price target on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a report on Thursday, October 10th. Finally, BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a "buy" rating and a $580.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average target price of $552.38.
Check Out Our Latest Stock Report on IDXX
IDEXX Laboratories Stock Down 1.4 %
Shares of NASDAQ:IDXX traded down $6.17 during trading on Thursday, hitting $423.65. 553,732 shares of the company's stock traded hands, compared to its average volume of 500,939. The company has a 50-day moving average price of $470.26 and a 200-day moving average price of $483.80. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $34.69 billion, a price-to-earnings ratio of 41.45, a price-to-earnings-growth ratio of 3.72 and a beta of 1.36.
IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million during the quarter, compared to analysts' expectations of $980.32 million. During the same quarter in the prior year, the company earned $2.53 earnings per share. The business's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.
IDEXX Laboratories Profile
(
Free Report)
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.
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