Entropy Technologies LP Makes New $1.64 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Entropy Technologies LP purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, Holdings Channel reports. The fund purchased 3,241 shares of the company’s stock, valued at approximately $1,637,000.

Other large investors have also recently modified their holdings of the company. Eads & Heald Wealth Management raised its position in IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after purchasing an additional 22 shares in the last quarter. LRI Investments LLC lifted its stake in IDEXX Laboratories by 21.7% in the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after acquiring an additional 23 shares during the period. Sovereign Financial Group Inc. grew its holdings in IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after acquiring an additional 23 shares in the last quarter. Mather Group LLC. increased its position in IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after purchasing an additional 23 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $426.11 on Wednesday. The company has a 50 day moving average price of $471.95 and a 200 day moving average price of $484.70. The firm has a market capitalization of $34.89 billion, a P/E ratio of 41.09, a PEG ratio of 3.78 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the previous year, the firm posted $2.53 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Analyst Ratings Changes

IDXX has been the topic of a number of recent research reports. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Stifel Nicolaus cut their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Barclays decreased their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

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.