J. Stern & Co. LLP Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

J. Stern & Co. LLP lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 48.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,320 shares of the company’s stock after purchasing an additional 1,077 shares during the quarter. IDEXX Laboratories comprises 0.2% of J. Stern & Co. LLP’s holdings, making the stock its 28th largest position. J. Stern & Co. LLP’s holdings in IDEXX Laboratories were worth $1,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDXX. Chicago Partners Investment Group LLC grew its position 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 purchasing an additional 96 shares during the period. Manning & Napier Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $20,418,000. Oppenheimer Asset Management Inc. lifted its holdings in 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. National Pension Service boosted its position in IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after purchasing an additional 12,647 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its holdings in shares of IDEXX Laboratories by 45.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after purchasing an additional 3,966 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ: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. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The stock has a market cap of $35.10 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 3.64 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The business’s 50-day simple moving average is $459.21 and its 200-day simple moving average is $480.12.

IDEXX Laboratories (NASDAQ:IDXX) last issued its 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 business had revenue of $975.50 million during 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 period last year, the company earned $2.53 EPS. On average, research analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analysts Set New Price Targets

IDXX has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Barclays reduced their target price 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. Three equities 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, 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.