Daiwa Securities Group Inc. Purchases 1,510 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Daiwa Securities Group Inc. grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,462 shares of the company’s stock after buying an additional 1,510 shares during the quarter. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $8,316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of IDEXX Laboratories by 28.0% in the 1st quarter. Advisors Asset Management Inc. now owns 1,984 shares of the company’s stock worth $1,071,000 after buying an additional 434 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $501,000. Dynasty Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter worth approximately $214,000. B. Riley Wealth Advisors Inc. lifted its stake in IDEXX Laboratories by 35.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,879 shares of the company’s stock valued at $1,015,000 after purchasing an additional 495 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in IDEXX Laboratories by 0.6% in the first quarter. California State Teachers Retirement System now owns 131,624 shares of the company’s stock valued at $71,068,000 after purchasing an additional 823 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IDXX shares. JPMorgan Chase & Co. lowered their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Stifel Nicolaus lowered 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. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Price Performance

IDXX stock opened at $428.59 on Tuesday. The firm has a 50 day moving average of $459.21 and a 200-day moving average of $480.12. The firm has a market capitalization of $35.10 billion, a P/E ratio of 41.33, a price-to-earnings-growth ratio of 3.64 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

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

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.