NorthRock Partners LLC Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

NorthRock Partners LLC lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 121.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,009 shares of the company’s stock after acquiring an additional 554 shares during the quarter. NorthRock Partners LLC’s holdings in IDEXX Laboratories were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. International Assets Investment Management LLC lifted its stake in IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after purchasing an additional 527,460 shares during the last quarter. Clearbridge Investments LLC lifted its stake in IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after purchasing an additional 308,493 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after purchasing an additional 213,731 shares during the last quarter. American Century Companies Inc. lifted its stake in IDEXX Laboratories by 46.0% in the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in IDEXX Laboratories by 4,193.1% in the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock valued at $62,601,000 after purchasing an additional 125,498 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on IDXX. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday. 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 research note on Friday, October 11th. Piper Sandler restated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Finally, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Trading Up 0.4 %

IDEXX Laboratories stock opened at $415.98 on Wednesday. The stock has a market cap of $34.24 billion, a P/E ratio of 40.11, a PEG ratio of 3.64 and a beta of 1.36. IDEXX Laboratories, Inc. has a fifty-two week low of $404.74 and a fifty-two week high of $583.39. The firm’s fifty day moving average price is $476.04 and its 200-day moving average price is $486.32. 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 (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share 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.