Jensen Investment Management Inc. Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Jensen Investment Management Inc. grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 58.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,090 shares of the company's stock after buying an additional 2,970 shares during the quarter. Jensen Investment Management Inc.'s holdings in IDEXX Laboratories were worth $4,087,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC boosted its position in shares of IDEXX Laboratories by 28.0% in the first quarter. Empowered Funds LLC now owns 1,039 shares of the company's stock worth $561,000 after purchasing an additional 227 shares during the period. Atomi Financial Group Inc. grew its position in shares of IDEXX Laboratories by 3.4% during the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company's stock worth $344,000 after purchasing an additional 21 shares in the last quarter. Concurrent Investment Advisors LLC raised its stake in IDEXX Laboratories by 12.1% during the 1st quarter. Concurrent Investment Advisors LLC now owns 446 shares of the company's stock valued at $241,000 after purchasing an additional 48 shares during the period. Choate Investment Advisors lifted its holdings in IDEXX Laboratories by 4.2% in the 1st quarter. Choate Investment Advisors now owns 2,042 shares of the company's stock worth $1,103,000 after purchasing an additional 82 shares in the last quarter. Finally, NorthRock Partners LLC lifted its holdings in shares of IDEXX Laboratories by 14.6% in the first quarter. NorthRock Partners LLC now owns 527 shares of the company's stock worth $285,000 after buying an additional 67 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

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

IDEXX Laboratories Trading Up 0.1 %

Shares of IDXX traded up $0.28 during mid-day trading on Friday, reaching $433.28. 655,728 shares of the company's stock traded hands, compared to its average volume of 769,371. The stock's 50-day moving average is $472.83 and its two-hundred day moving average is $485.13. The stock has a market cap of $35.48 billion, a P/E ratio of 41.78, a P/E/G ratio of 3.70 and a beta of 1.36. 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 $404.74 and a 12 month high of $583.39.

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