IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 6,310 shares of the company’s stock after buying an additional 444 shares during the period. Tidal Investments LLC’s holdings in IDEXX Laboratories were worth $3,188,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories during the third quarter worth approximately $25,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in IDEXX Laboratories in the third quarter valued at $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of research analyst reports. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $539.63.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 1.2 %

Shares of IDEXX Laboratories stock opened at $432.10 on Friday. The firm has a market cap of $35.38 billion, a price-to-earnings ratio of 41.67, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The company’s 50-day simple moving average is $439.55 and its 200-day simple moving average is $471.57. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

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. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the prior year, the business posted $2.53 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

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.