Summit Trail Advisors LLC Buys 81 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Summit Trail Advisors LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784 shares of the company’s stock after purchasing an additional 81 shares during the period. Summit Trail Advisors LLC’s holdings in IDEXX Laboratories were worth $396,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Centaurus Financial Inc. bought a new position in IDEXX Laboratories in the 3rd quarter worth approximately $115,000. Larson Financial Group LLC raised its position in IDEXX Laboratories by 17,238.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,241 shares during the last quarter. Algert Global LLC raised its position in IDEXX Laboratories by 1,193.5% in the 3rd quarter. Algert Global LLC now owns 9,171 shares of the company’s stock worth $4,633,000 after purchasing an additional 8,462 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in IDEXX Laboratories in the 3rd quarter worth approximately $507,000. Finally, Cerity Partners LLC raised its position in IDEXX Laboratories by 25.2% in the 3rd quarter. Cerity Partners LLC now owns 10,924 shares of the company’s stock worth $5,519,000 after purchasing an additional 2,202 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays dropped their target price 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. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Stifel Nicolaus dropped 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 report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $417.32 on Wednesday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The firm has a market capitalization of $34.17 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 3.64 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. The firm has a fifty day moving average of $457.31 and a 200-day moving average of $479.47.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the previous year, the business earned $2.53 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share 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.