Mogy Joel R Investment Counsel Inc. Acquires 1,253 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mogy Joel R Investment Counsel Inc. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,314 shares of the company’s stock after buying an additional 1,253 shares during the quarter. IDEXX Laboratories accounts for about 2.4% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 15th biggest position. Mogy Joel R Investment Counsel Inc. owned 0.09% of IDEXX Laboratories worth $39,566,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IDXX. Riverview Trust Co bought a new position in IDEXX Laboratories in the first quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in IDEXX Laboratories in the first quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories in the second quarter worth approximately $27,000. Institutional & Family Asset Management LLC bought a new position in IDEXX Laboratories in the second quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in IDEXX Laboratories in the second quarter worth approximately $36,000. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of several research analyst reports. Piper Sandler dropped their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $574.13.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $457.74 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The stock’s fifty day moving average price is $487.50 and its 200 day moving average price is $491.76. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 4.14 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $2.67 earnings per share. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

About IDEXX Laboratories

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.