IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Increased by Bourne Lent Asset Management Inc.

Bourne Lent Asset Management Inc. increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.5% during the third quarter, HoldingsChannel.com reports. The firm owned 38,822 shares of the company’s stock after buying an additional 180 shares during the period. IDEXX Laboratories accounts for 7.4% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 5th largest position. Bourne Lent Asset Management Inc.’s holdings in IDEXX Laboratories were worth $19,614,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Atomi Financial Group Inc. grew its position in shares of IDEXX Laboratories by 3.4% in the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after buying an additional 21 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of IDEXX Laboratories by 1.9% during the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock valued at $641,000 after purchasing an additional 22 shares in the last quarter. Eads & Heald Wealth Management boosted its position in shares of IDEXX Laboratories by 0.8% during the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after purchasing an additional 22 shares in the last quarter. LRI Investments LLC boosted its position in shares of IDEXX Laboratories by 21.7% during the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after purchasing an additional 23 shares in the last quarter. Finally, Mather Group LLC. boosted its position in shares of IDEXX Laboratories by 3.9% during the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.9 %

IDXX stock opened at $473.92 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The stock has a market capitalization of $39.14 billion, a P/E ratio of 45.88, a P/E/G ratio of 4.14 and a beta of 1.33. The business has a fifty day moving average price of $488.55 and a 200-day moving average price of $492.71.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped 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, October 11th. BTIG Research assumed coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Piper Sandler lowered their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

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.