Middleton & Co. Inc. MA Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Middleton & Co. Inc. MA lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 571.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,210 shares of the company’s stock after acquiring an additional 5,285 shares during the quarter. Middleton & Co. Inc. MA’s holdings in IDEXX Laboratories were worth $3,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IDXX. Crewe Advisors LLC purchased a new stake in IDEXX Laboratories in the 1st quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC boosted 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 worth $34,000 after purchasing an additional 60 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in IDEXX Laboratories in the second quarter worth $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $451.41 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock has a market cap of $37.16 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 4.03 and a beta of 1.33. The stock has a fifty day moving average of $485.44 and a 200-day moving average of $489.97.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share 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 company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $2.67 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IDXX. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler decreased their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus dropped their price objective 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, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $574.13.

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.