Gateway Investment Advisers LLC Purchases 134 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Gateway Investment Advisers LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,075 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Gateway Investment Advisers LLC’s holdings in IDEXX Laboratories were worth $5,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new position in shares of IDEXX Laboratories in the 1st 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 purchased a new position in shares of IDEXX Laboratories during the 2nd quarter worth $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $36,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $476.27 on Friday. The company has a market capitalization of $39.33 billion, a P/E ratio of 46.11, a P/E/G ratio of 4.14 and a beta of 1.33. The business’s 50-day moving average is $488.00 and its 200 day moving average is $493.93. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39.

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

Wall Street Analyst Weigh In

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

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.