Baker Tilly Wealth Management LLC Invests $221,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Baker Tilly Wealth Management LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 438 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently added to or reduced their stakes in IDXX. Crewe Advisors LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $28,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $36,000. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on IDXX. Piper Sandler dropped their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

IDEXX Laboratories Price Performance

IDXX stock opened at $449.44 on Tuesday. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The firm has a 50-day moving average of $483.67 and a two-hundred day moving average of $488.84. The firm has a market capitalization of $37.12 billion, a PE ratio of 43.51, a P/E/G ratio of 4.03 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $2.67 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

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.