FORA Capital LLC Acquires 2,877 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

FORA Capital LLC grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 229.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,129 shares of the company’s stock after buying an additional 2,877 shares during the quarter. FORA Capital LLC’s holdings in IDEXX Laboratories were worth $2,086,000 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. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in IDEXX Laboratories by 59.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 155,646 shares of the company’s stock valued at $78,635,000 after acquiring an additional 58,064 shares during the period. Glenmede Trust Co. NA lifted its position in IDEXX Laboratories by 2.6% in the third quarter. Glenmede Trust Co. NA now owns 1,874 shares of the company’s stock valued at $947,000 after purchasing an additional 48 shares during the last quarter. Freedom Investment Management Inc. lifted its position in IDEXX Laboratories by 5.6% in the third quarter. Freedom Investment Management Inc. now owns 1,539 shares of the company’s stock valued at $778,000 after purchasing an additional 81 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of IDEXX Laboratories by 23.7% during the third quarter. Townsquare Capital LLC now owns 5,058 shares of the company’s stock valued at $2,555,000 after purchasing an additional 970 shares during the period. Finally, J. Stern & Co. LLP grew its holdings in shares of IDEXX Laboratories by 48.0% in the third quarter. J. Stern & Co. LLP now owns 3,320 shares of the company’s stock worth $1,677,000 after purchasing an additional 1,077 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Up 1.1 %

NASDAQ:IDXX opened at $421.76 on Thursday. 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 firm’s 50-day moving average price is $455.52 and its 200-day moving average price is $479.07. The company has a market capitalization of $34.54 billion, a PE ratio of 40.67, a P/E/G ratio of 3.74 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the prior year, the company earned $2.53 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on IDXX. JPMorgan Chase & Co. lowered 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. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus cut their target price 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. Finally, Barclays reduced their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $552.38.

About IDEXX Laboratories

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.