Avestar Capital LLC Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Avestar Capital LLC grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Avestar Capital LLC’s holdings in IDEXX Laboratories were worth $383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at about $341,000. D.A. Davidson & CO. boosted its holdings in 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 purchasing an additional 142 shares during the last quarter. FMR LLC grew its stake in shares of IDEXX Laboratories by 3.6% in the 3rd quarter. FMR LLC now owns 290,861 shares of the company’s stock valued at $146,949,000 after buying an additional 10,017 shares during the period. Mirabella Financial Services LLP increased its holdings 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 buying an additional 9,999 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of IDEXX Laboratories by 4.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock valued at $375,000 after buying an additional 31 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 1.1 %

NASDAQ IDXX opened at $421.76 on Thursday. 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 firm has a market cap of $34.54 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. The firm has a 50 day simple moving average of $455.52 and a 200-day simple moving average of $479.07. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $980.32 million. During the same quarter last year, the company posted $2.53 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, Barclays decreased their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Company 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.