NorthRock Partners LLC Has $510,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

NorthRock Partners LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 121.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,009 shares of the company’s stock after buying an additional 554 shares during the quarter. NorthRock Partners LLC’s holdings in IDEXX Laboratories were worth $510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. Nordea Investment Management AB raised its position in shares of IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after acquiring an additional 1,839 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of IDEXX Laboratories in the 1st quarter worth about $1,472,000. Commerce Bank raised its position in shares of IDEXX Laboratories by 0.8% in the 1st quarter. Commerce Bank now owns 11,634 shares of the company’s stock worth $6,282,000 after acquiring an additional 91 shares in the last quarter. Rehmann Capital Advisory Group raised its position in shares of IDEXX Laboratories by 3.1% in the 1st quarter. Rehmann Capital Advisory Group now owns 985 shares of the company’s stock worth $532,000 after acquiring an additional 30 shares in the last quarter. Finally, Csenge Advisory Group raised its position in shares of IDEXX Laboratories by 21.4% in the 1st quarter. Csenge Advisory Group now owns 943 shares of the company’s stock worth $509,000 after acquiring an additional 166 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IDXX shares. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Barclays decreased their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday. Three 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $415.98 on Wednesday. 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 50 day moving average price of $476.04 and a two-hundred day moving average price of $486.32. The firm has a market capitalization of $34.24 billion, a P/E ratio of 40.11, a P/E/G ratio of 3.64 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period in the previous year, the company posted $2.53 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

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.