Erste Asset Management GmbH Acquires New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Erste Asset Management GmbH purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,790 shares of the company’s stock, valued at approximately $1,428,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in IDEXX Laboratories during the second quarter valued at $36,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at approximately $37,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.18% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $432.11 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. The firm has a market cap of $35.39 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 3.76 and a beta of 1.37. The business’s fifty day simple moving average is $448.89 and its 200-day simple moving average is $475.75. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly 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 net margin of 22.53% and a return on equity of 55.42%. 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 prior year, the firm earned $2.53 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IDXX. Barclays reduced their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday. Stifel Nicolaus lowered their target price 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. Finally, Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $546.56.

About IDEXX Laboratories

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.