Moss Adams Wealth Advisors LLC Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Moss Adams Wealth Advisors LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 506 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds also recently made changes to their positions in IDXX. Wellington Management Group LLP raised its stake in shares of IDEXX Laboratories by 1,503.9% during the fourth quarter. Wellington Management Group LLP now owns 55,913 shares of the company’s stock valued at $31,035,000 after acquiring an additional 52,427 shares during the last quarter. Gulf International Bank UK Ltd raised its position in IDEXX Laboratories by 0.6% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,855 shares of the company’s stock valued at $3,701,000 after purchasing an additional 39 shares during the last quarter. Ballentine Partners LLC lifted its holdings in IDEXX Laboratories by 1.9% in the 1st quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after buying an additional 22 shares during the period. Steph & Co. grew its position in shares of IDEXX Laboratories by 12.9% in the 1st quarter. Steph & Co. now owns 333 shares of the company’s stock worth $180,000 after buying an additional 38 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of IDEXX Laboratories by 3.9% during the first quarter. CHICAGO TRUST Co NA now owns 3,195 shares of the company’s stock valued at $1,725,000 after buying an additional 120 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IDXX. JPMorgan Chase & Co. dropped their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $457.74 on Friday. The stock’s 50 day moving average is $487.50 and its 200 day moving average is $491.55. The company has a market capitalization of $37.80 billion, a P/E ratio of 44.31, a PEG ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $2.67 earnings per share. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

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.