Cortland Associates Inc. MO Has $2.99 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cortland Associates Inc. MO lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.8% during the third quarter, Holdings Channel reports. The fund owned 5,913 shares of the company’s stock after selling 47 shares during the quarter. IDEXX Laboratories comprises 0.4% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 25th largest position. Cortland Associates Inc. MO’s holdings in IDEXX Laboratories were worth $2,987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IDXX. Angeles Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 2.4% during the third 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 during the period. Van ECK Associates Corp grew its position in IDEXX Laboratories by 10.4% in the 3rd quarter. Van ECK Associates Corp now owns 25,133 shares of the company’s stock valued at $12,698,000 after purchasing an additional 2,367 shares during the period. Private Wealth Partners LLC bought a new stake in IDEXX Laboratories during the 3rd quarter valued at $526,000. Chicago Partners Investment Group LLC raised its holdings in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after buying an additional 96 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of IDEXX Laboratories by 15.0% during the third quarter. Farther Finance Advisors LLC now owns 805 shares of the company’s stock valued at $407,000 after buying an additional 105 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on IDXX. 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 report on Wednesday, August 14th. BTIG Research assumed coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Barclays reduced 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 note on Monday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $563.00.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $417.28 on Monday. IDEXX Laboratories, Inc. has a fifty-two week low of $395.37 and a fifty-two week high of $583.39. The company’s 50-day moving average is $478.76 and its 200 day moving average is $487.19. 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 company has a market capitalization of $34.35 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 3.55 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results 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 firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 EPS. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current 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.