Mizuho Securities USA LLC Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mizuho Securities USA LLC grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 175.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,520 shares of the company’s stock after acquiring an additional 11,152 shares during the quarter. Mizuho Securities USA LLC’s holdings in IDEXX Laboratories were worth $8,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its position in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after purchasing an additional 96 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $20,418,000. Oppenheimer Asset Management Inc. grew its position in IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after acquiring an additional 1,453 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 acquiring an additional 98,387 shares during the last quarter. Finally, National Pension Service raised its position in IDEXX Laboratories by 7.3% during 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. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $420.91 on Friday. The stock has a market capitalization of $34.47 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 3.75 and a beta of 1.36. The firm’s 50-day moving average price is $468.32 and its two-hundred day moving average price is $482.73. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 12-month low of $404.74 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company 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%. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IDXX shares. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Barclays decreased their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Stifel Nicolaus decreased 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.