419 Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX) Acquired by Drake & Associates LLC

Drake & Associates LLC bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 419 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds also recently modified their holdings of IDXX. Riverview Trust Co purchased a new position in shares of IDEXX Laboratories during the 1st quarter valued at $26,000. Crewe Advisors LLC purchased a new position in IDEXX Laboratories in the first quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories in the 2nd quarter worth about $27,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the topic of a number of research reports. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Piper Sandler lowered their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $574.13.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $460.01 on Friday. The company has a market cap of $37.99 billion, a price-to-earnings ratio of 44.53, a PEG ratio of 4.14 and a beta of 1.33. The business has a 50 day moving average price of $488.01 and a 200 day moving average price of $492.28. 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 twelve month low of $372.50 and a twelve month high of $583.39.

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

IDEXX Laboratories 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.