Crew Capital Management Ltd. Increases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Crew Capital Management Ltd. raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,071 shares of the company’s stock after buying an additional 341 shares during the period. Crew Capital Management Ltd.’s holdings in IDEXX Laboratories were worth $1,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Suncoast Equity Management increased its stake in shares of IDEXX Laboratories by 3.4% in the 3rd quarter. Suncoast Equity Management now owns 1,366 shares of the company’s stock worth $690,000 after purchasing an additional 45 shares in the last quarter. Penn Davis Mcfarland Inc. purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth $404,000. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of IDEXX Laboratories by 4.0% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 41,102 shares of the company’s stock worth $20,766,000 after purchasing an additional 1,598 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth $468,000. Finally, Blue Trust Inc. increased its stake in shares of IDEXX Laboratories by 108.5% in the 3rd quarter. Blue Trust Inc. now owns 1,551 shares of the company’s stock worth $756,000 after purchasing an additional 807 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the subject of several analyst reports. BTIG Research initiated coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

IDEXX Laboratories Stock Down 1.4 %

IDXX stock traded down $6.61 during trading on Monday, hitting $451.13. 388,049 shares of the company’s stock traded hands, compared to its average volume of 472,030. The firm has a market capitalization of $37.26 billion, a P/E ratio of 44.03, a PEG ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year 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 business has a fifty day simple moving average of $487.50 and a two-hundred day simple moving average of $491.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its 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 during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $2.67 earnings per share. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current 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.