Mufg Securities Americas Inc. Makes New $500,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mufg Securities Americas Inc. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,209 shares of the company’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hurley Capital LLC bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $29,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at $31,000. Colonial Trust Co SC grew its stake in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $38,000. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IDXX. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $524.75.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $511.99 on Friday. The company has a 50 day moving average price of $429.46 and a 200-day moving average price of $430.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market capitalization of $41.18 billion, a PE ratio of 47.98, a PEG ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $547.22.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the company earned $2.71 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal 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.