IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 783 shares of the company’s stock after purchasing an additional 53 shares during the period. Financial Advocates Investment Management’s holdings in IDEXX Laboratories were worth $396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the last quarter. American Century Companies Inc. raised its stake in IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after acquiring an additional 177,226 shares in the last quarter. International Assets Investment Management LLC boosted its position in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after acquiring an additional 527,460 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of IDEXX Laboratories by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after purchasing an additional 59,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of IDEXX Laboratories by 12.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after purchasing an additional 43,473 shares during the period. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $417.28 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $395.37 and a 1 year high of $583.39. The business’s fifty day moving average is $478.76 and its two-hundred day moving average is $487.13. The stock has a market capitalization of $34.35 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period in the previous year, the firm earned $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts forecast 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.