Quantinno Capital Management LP Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Quantinno Capital Management LP boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 46.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,756 shares of the company's stock after acquiring an additional 4,695 shares during the period. Quantinno Capital Management LP's holdings in IDEXX Laboratories were worth $7,455,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in IDXX. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories in the third quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories during the second quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake 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 worth $29,000 after acquiring an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its stake in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in IDEXX Laboratories during the 2nd quarter worth about $36,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on IDXX shares. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th. 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 note on Monday, November 4th. Leerink Partnrs raised IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. decreased their target price 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. Finally, Piper Sandler restated a "neutral" rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $546.56.

IDEXX Laboratories Stock Up 1.9 %

Shares of IDXX traded up $8.20 during mid-day trading on Friday, reaching $435.69. The company's stock had a trading volume of 551,918 shares, compared to its average volume of 649,999. 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 $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 company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company's 50 day moving average is $444.47 and its 200 day moving average is $474.16.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) 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 business 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 business posted $2.53 EPS. The company's revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

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.