Private Wealth Partners LLC Purchases New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Private Wealth Partners LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,041 shares of the company’s stock, valued at approximately $526,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IDXX shares. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Piper Sandler cut their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. cut their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Stock Up 2.5 %

Shares of IDXX opened at $417.28 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $395.37 and a 52 week high of $583.39. The stock has a market capitalization of $34.35 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 3.55 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The stock has a fifty day moving average of $478.76 and a 200-day moving average of $487.13.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 55.42% and a net margin of 22.53%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

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.