Point72 Asia Singapore Pte. Ltd. Buys Shares of 1,328 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,328 shares of the company’s stock, valued at approximately $671,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the third quarter valued at approximately $25,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories in the second quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of IDEXX Laboratories by 5,700.0% in 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 boosted its position in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories in the third quarter worth approximately $37,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

IDXX has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, Barclays dropped 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $421.75 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a fifty day moving average price of $451.91 and a 200 day moving average price of $477.31. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate 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 quarter last year, the business earned $2.53 earnings per share. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal 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.