Van ECK Associates Corp Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Van ECK Associates Corp increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,133 shares of the company's stock after purchasing an additional 2,367 shares during the quarter. Van ECK Associates Corp's holdings in IDEXX Laboratories were worth $12,698,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IDXX. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the first quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth about $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth about $28,000. 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 worth $29,000 after purchasing an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in IDEXX Laboratories by 750.0% in the third 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 in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IDXX. JPMorgan Chase & Co. dropped their price target on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a report on Friday, October 11th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research report on Monday. BTIG Research began coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a "buy" rating and a $580.00 price target for the company. Finally, Piper Sandler reiterated 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and a consensus target price of $552.38.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded up $7.44 during trading hours on Wednesday, reaching $423.42. The company's stock had a trading volume of 1,074,503 shares, compared to its average volume of 728,188. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 1 year low of $404.74 and a 1 year high of $583.39. The firm's 50-day moving average price is $474.87 and its 200-day moving average price is $485.88. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 3.61 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping 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 analyst estimates of $980.32 million. During the same period in the previous year, the firm earned $2.53 earnings per share. IDEXX Laboratories's quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.45 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.