Kovitz Investment Group Partners LLC Has $29.81 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kovitz Investment Group Partners LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 148.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 60,279 shares of the company's stock after purchasing an additional 35,972 shares during the period. Kovitz Investment Group Partners LLC owned about 0.07% of IDEXX Laboratories worth $29,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories in the second quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock valued at $29,000 after acquiring an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories during the second quarter valued at $36,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Piper Sandler reissued a "neutral" rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Thursday, October 10th. Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $546.56.

IDEXX Laboratories Trading Up 1.9 %

IDEXX Laboratories stock traded up $8.20 during midday trading on Friday, reaching $435.69. The stock had a trading volume of 551,918 shares, compared to its average volume of 649,999. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The stock has a market capitalization of $35.68 billion, a PE ratio of 42.01, a price-to-earnings-growth ratio of 3.97 and a beta of 1.37. The stock's 50-day simple moving average is $445.99 and its 200 day simple moving average is $475.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company's revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.11% of the company's stock.

IDEXX Laboratories Company 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.