IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Algert Global LLC

Algert Global LLC boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,193.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,171 shares of the company’s stock after purchasing an additional 8,462 shares during the period. Algert Global LLC’s holdings in IDEXX Laboratories were worth $4,633,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IDXX. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. increased its stake in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its holdings in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in IDEXX Laboratories during the second quarter valued at about $36,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $417.24 on Monday. The firm has a market cap of $34.17 billion, a P/E ratio of 40.24, a PEG ratio of 3.65 and a beta of 1.36. The stock’s 50-day moving average is $460.86 and its two-hundred day moving average is $480.63. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

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

Analyst Ratings Changes

IDXX has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price 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. Piper Sandler reissued a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Barclays reduced their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories 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.