Davis R M Inc. Purchases 793 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Davis R M Inc. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 103,378 shares of the company’s stock after buying an additional 793 shares during the quarter. Davis R M Inc.’s holdings in IDEXX Laboratories were worth $52,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eads & Heald Wealth Management raised its position in IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after buying an additional 22 shares during the last quarter. LRI Investments LLC boosted its holdings in IDEXX Laboratories by 21.7% in the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after purchasing an additional 23 shares during the last quarter. Sovereign Financial Group Inc. grew its position in IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares during the period. Mather Group LLC. raised its stake in IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after buying an additional 23 shares during the last quarter. Finally, Angeles Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after buying an additional 25 shares during the period. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on IDXX shares. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays dropped their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus reduced their target price on shares of 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. dropped their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $417.24 on Monday. The stock has a 50-day moving average price of $460.86 and a 200 day moving average price of $480.63. The stock has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a P/E/G 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 data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the firm posted $2.53 EPS. The company’s revenue was up 6.6% on a year-over-year basis. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS 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.