Apollon Wealth Management LLC Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Apollon Wealth Management LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.4% in the third quarter, Holdings Channel reports. The firm owned 7,357 shares of the company’s stock after purchasing an additional 691 shares during the period. Apollon Wealth Management LLC’s holdings in IDEXX Laboratories were worth $3,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in shares of IDEXX Laboratories by 28.0% during the first quarter. Empowered Funds LLC now owns 1,039 shares of the company’s stock valued at $561,000 after buying an additional 227 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of IDEXX Laboratories by 12.1% in the first quarter. Concurrent Investment Advisors LLC now owns 446 shares of the company’s stock valued at $241,000 after purchasing an additional 48 shares during the period. QRG Capital Management Inc. raised its stake in shares of IDEXX Laboratories by 7.4% in the first quarter. QRG Capital Management Inc. now owns 3,725 shares of the company’s stock worth $2,011,000 after purchasing an additional 258 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of IDEXX Laboratories by 54.2% during the first quarter. Russell Investments Group Ltd. now owns 37,943 shares of the company’s stock worth $20,483,000 after purchasing an additional 13,344 shares during the period. Finally, Avantax Advisory Services Inc. boosted its position in IDEXX Laboratories by 24.5% in the first quarter. Avantax Advisory Services Inc. now owns 787 shares of the company’s stock valued at $425,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent research reports. Barclays reduced their price target 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. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $426.11 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39. The stock’s 50-day moving average price is $471.95 and its 200-day moving average price is $484.70. The stock has a market capitalization of $34.89 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 3.78 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

IDEXX Laboratories 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.