Mizuho Securities USA LLC Acquires 11,152 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDXX. Empowered Funds LLC raised its position in IDEXX Laboratories by 28.0% in the 1st quarter. Empowered Funds LLC now owns 1,039 shares of the company’s stock valued at $561,000 after buying an additional 227 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of IDEXX Laboratories by 24.5% during the first quarter. Avantax Advisory Services Inc. now owns 787 shares of the company’s stock valued at $425,000 after purchasing an additional 155 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in IDEXX Laboratories by 3.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,001 shares of the company’s stock worth $1,620,000 after purchasing an additional 91 shares during the last quarter. Intech Investment Management LLC grew its position in IDEXX Laboratories by 154.2% in the 1st quarter. Intech Investment Management LLC now owns 4,090 shares of the company’s stock worth $2,208,000 after purchasing an additional 2,481 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IDXX has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective 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 report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays cut their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus lowered their price objective on 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $420.91 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock has a market capitalization of $34.47 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $404.74 and a 52-week high of $583.39. The stock’s 50-day simple moving average is $468.32 and its 200 day simple moving average is $482.73.

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, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.53 earnings per share. Research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

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.