Pine Haven Investment Counsel Inc Buys 119 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pine Haven Investment Counsel Inc lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.9% in the third quarter, HoldingsChannel.com reports. The firm owned 973 shares of the company’s stock after acquiring an additional 119 shares during the period. Pine Haven Investment Counsel Inc’s holdings in IDEXX Laboratories were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after purchasing an additional 98,387 shares during the last quarter. American Century Companies Inc. raised its position in shares of IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares during the period. Dimensional Fund Advisors LP raised its position in shares of IDEXX Laboratories by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after purchasing an additional 59,519 shares during the period. Massachusetts Financial Services Co. MA raised its position in IDEXX Laboratories by 12.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after buying an additional 43,473 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after buying an additional 308,493 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IDXX shares. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Piper Sandler lowered their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $574.13.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX traded up $3.70 during midday trading on Friday, hitting $476.98. 145,495 shares of the company’s stock were exchanged, compared to its average volume of 465,375. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company’s 50 day moving average price is $487.85 and its 200 day moving average price is $494.56. The firm has a market capitalization of $39.26 billion, a PE ratio of 47.19, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.67 earnings per share. As a group, analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share 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.