IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 175.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,576 shares of the company’s stock after purchasing an additional 25,830 shares during the period. Focus Partners Wealth’s holdings in IDEXX Laboratories were worth $17,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock worth $948,279,000 after buying an additional 37,734 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after buying an additional 82,264 shares during the last quarter. Invesco Ltd. increased its holdings in shares of IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after buying an additional 74,324 shares during the last quarter. Norges Bank acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth $412,258,000. Finally, Northern Trust Corp increased its holdings in shares of IDEXX Laboratories by 18.6% during the 4th quarter. Northern Trust Corp now owns 912,874 shares of the company’s stock worth $377,419,000 after buying an additional 143,369 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 0.4%

Shares of IDEXX Laboratories stock opened at $491.70 on Monday. The business has a 50-day moving average of $423.31 and a 200-day moving average of $429.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company has a market capitalization of $39.54 billion, a PE ratio of 46.08, a P/E/G ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $2.71 earnings per share. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IDXX has been the subject of several recent research reports. Barclays increased their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Piper Sandler increased their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Morgan Stanley increased their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $524.75.

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.