J. Stern & Co. LLP Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

J. Stern & Co. LLP raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 48.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,320 shares of the company’s stock after purchasing an additional 1,077 shares during the period. IDEXX Laboratories makes up 0.2% of J. Stern & Co. LLP’s holdings, making the stock its 28th biggest holding. J. Stern & Co. LLP’s holdings in IDEXX Laboratories were worth $1,677,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of IDXX. Avestar Capital LLC raised its holdings in IDEXX Laboratories by 8.6% in the 3rd quarter. Avestar Capital LLC now owns 759 shares of the company’s stock valued at $383,000 after buying an additional 60 shares during the period. Quantbot Technologies LP acquired a new stake in shares of IDEXX Laboratories during the third quarter valued at about $341,000. D.A. Davidson & CO. raised its stake in shares of IDEXX Laboratories by 9.5% in the 3rd quarter. D.A. Davidson & CO. now owns 1,629 shares of the company’s stock valued at $823,000 after acquiring an additional 142 shares during the period. FMR LLC lifted its holdings in shares of IDEXX Laboratories by 3.6% in the 3rd quarter. FMR LLC now owns 290,861 shares of the company’s stock worth $146,949,000 after acquiring an additional 10,017 shares during the last quarter. Finally, Mirabella Financial Services LLP boosted its position in shares of IDEXX Laboratories by 74.9% during the 3rd quarter. Mirabella Financial Services LLP now owns 23,356 shares of the company’s stock worth $11,800,000 after purchasing an additional 9,999 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 2.7 %

Shares of IDXX traded up $11.35 during midday trading on Tuesday, hitting $428.59. The company had a trading volume of 1,140,945 shares, compared to its average volume of 506,210. The company’s 50-day simple moving average is $459.21 and its 200-day simple moving average is $480.12. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The firm has a market capitalization of $35.10 billion, a P/E ratio of 41.33, a P/E/G ratio of 3.64 and a beta of 1.36.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on IDXX shares. JPMorgan Chase & Co. cut their target price 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. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories 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.