Net Worth Advisory Group Invests $523,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Net Worth Advisory Group purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,035 shares of the company’s stock, valued at approximately $523,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after buying an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $20,418,000. Oppenheimer Asset Management Inc. lifted its position in IDEXX Laboratories by 13.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after purchasing an additional 1,453 shares during the last quarter. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares in the last quarter. Finally, BNP Paribas bought a new position in shares of IDEXX Laboratories in the 1st quarter worth $1,031,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Down 0.5 %

Shares of IDEXX Laboratories stock opened at $457.74 on Friday. 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. The company’s 50 day moving average is $487.50 and its 200 day moving average is $491.55. The company has a market cap of $37.80 billion, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate 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%. IDEXX Laboratories’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.67 earnings per share. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on IDXX shares. JPMorgan Chase & Co. cut their target price 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. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler dropped 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. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Finally, Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.