Inspire Advisors LLC Buys 87 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Inspire Advisors LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,077 shares of the company’s stock after buying an additional 87 shares during the quarter. Inspire Advisors LLC’s holdings in IDEXX Laboratories were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atomi Financial Group Inc. lifted its holdings in IDEXX Laboratories by 3.4% during the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after buying an additional 21 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of IDEXX Laboratories by 1.9% in the 1st 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 raised its holdings in shares of IDEXX Laboratories by 0.8% in the 2nd 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 raised its holdings in shares of IDEXX Laboratories by 21.7% in the 2nd 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, Sovereign Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $457.74 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The company has a fifty day moving average of $487.50 and a two-hundred day moving average of $491.76. The stock has a market capitalization of $37.80 billion, a PE ratio of 44.31, a P/E/G ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

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

Analysts Set New Price Targets

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

About IDEXX Laboratories

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.