Impax Asset Management Group plc Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Impax Asset Management Group plc increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,655 shares of the company’s stock after purchasing an additional 1,110 shares during the quarter. Impax Asset Management Group plc’s holdings in IDEXX Laboratories were worth $4,373,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Metis Global Partners LLC increased its holdings in IDEXX Laboratories by 3.2% during the 3rd quarter. Metis Global Partners LLC now owns 5,515 shares of the company’s stock valued at $2,786,000 after acquiring an additional 171 shares in the last quarter. KBC Group NV raised its position in shares of IDEXX Laboratories by 41.1% in the third quarter. KBC Group NV now owns 100,948 shares of the company’s stock valued at $51,001,000 after buying an additional 29,388 shares during the last quarter. Huntington National Bank raised its position in shares of IDEXX Laboratories by 1.1% in the third quarter. Huntington National Bank now owns 3,979 shares of the company’s stock valued at $2,010,000 after buying an additional 42 shares during the last quarter. ROI Financial Advisors LLC raised its position in shares of IDEXX Laboratories by 1.6% in the third quarter. ROI Financial Advisors LLC now owns 3,997 shares of the company’s stock valued at $2,019,000 after buying an additional 64 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd raised its position in shares of IDEXX Laboratories by 18.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 1,074 shares of the company’s stock valued at $543,000 after buying an additional 167 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IDXX shares. JPMorgan Chase & Co. cut their price objective 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 restated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. BTIG Research began coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Barclays lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus decreased 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $420.91 on Friday. The company has a market capitalization of $34.47 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. The firm has a fifty day simple moving average of $469.35 and a 200-day simple moving average of $483.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a twelve month low of $404.74 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 earnings per share. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share 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.