IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Boosted by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.1% during the third quarter, Holdings Channel.com reports. The firm owned 2,985 shares of the company’s stock after acquiring an additional 172 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in IDEXX Laboratories were worth $1,508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of IDXX. Chicago Partners Investment Group LLC raised its holdings in IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after buying an additional 96 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $20,418,000. Oppenheimer Asset Management Inc. boosted its position in shares of IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after acquiring an additional 1,453 shares during the period. Vanguard Group Inc. raised its stake in shares of IDEXX Laboratories by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after purchasing an additional 98,387 shares in the last quarter. Finally, National Pension Service raised its stake in shares of IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after purchasing an additional 12,647 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $423.65 on Friday. The firm has a market capitalization of $34.69 billion, a P/E ratio of 40.85, a PEG ratio of 3.75 and a beta of 1.36. IDEXX Laboratories, Inc. has a one year low of $404.74 and a one year high of $583.39. The business has a fifty day moving average price of $470.26 and a 200-day moving average price of $483.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $2.53 earnings per share. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BTIG Research started 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. Stifel Nicolaus reduced their target price on 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. reduced their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Barclays dropped their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

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.