Nvest Financial LLC Has $1.13 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nvest Financial LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,241 shares of the company’s stock after purchasing an additional 109 shares during the quarter. Nvest Financial LLC’s holdings in IDEXX Laboratories were worth $1,132,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB grew its holdings in IDEXX Laboratories by 15.5% during 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 during the period. Manning & Napier Advisors LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $20,418,000. First Hawaiian Bank bought a new position in shares of IDEXX Laboratories during the first quarter valued at about $982,000. Meyer Handelman Co. bought a new stake in IDEXX Laboratories in the 1st quarter worth $2,155,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in IDEXX Laboratories by 13.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the topic of several recent analyst reports. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research assumed coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Piper Sandler lowered their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. cut 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 note on Friday. Finally, Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $574.13.

IDEXX Laboratories Stock Up 0.9 %

NASDAQ:IDXX traded up $4.24 during mid-day trading on Friday, hitting $477.52. 181,637 shares of the company’s stock traded hands, compared to its average volume of 465,559. The company has a market capitalization of $39.30 billion, a P/E ratio of 47.19, a P/E/G ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The company has a fifty day moving average of $487.85 and a 200 day moving average of $494.56.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $2.67 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current 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.