IDEXX Laboratories, Inc. (NASDAQ:IDXX) Short Interest Update

IDEXX Laboratories, Inc. (NASDAQ:IDXX) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,500,000 shares, an increase of 7.1% from the December 15th total of 1,400,000 shares. Based on an average daily volume of 645,100 shares, the short-interest ratio is presently 2.3 days. Approximately 1.9% of the company’s shares are sold short.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $419.26 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The business has a 50-day moving average of $423.60 and a 200-day moving average of $457.86. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 3.52 and a beta of 1.36. IDEXX Laboratories has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results 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 firm had revenue of $975.50 million during 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 business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. As a group, sell-side analysts predict that IDEXX Laboratories will post 10.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IDXX shares. 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. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Barclays reduced 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 note on Monday, November 4th. JPMorgan Chase & Co. dropped their price target 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. Finally, Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $523.86.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in IDEXX Laboratories by 5,700.0% during the third 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 during the period. Mowery & Schoenfeld Wealth Management LLC increased its position in IDEXX Laboratories by 750.0% during the third 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 last quarter. Ashton Thomas Securities LLC bought a new stake in IDEXX Laboratories in the third quarter valued at approximately $37,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $31,000. 87.84% of the stock is owned by institutional investors.

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.