Royal London Asset Management Ltd. Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Royal London Asset Management Ltd. increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,072 shares of the company’s stock after purchasing an additional 2,189 shares during the period. Royal London Asset Management Ltd. owned 0.13% of IDEXX Laboratories worth $52,074,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. Harbor Capital Advisors Inc. boosted its stake in shares of IDEXX Laboratories by 11.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 917 shares of the company’s stock worth $447,000 after acquiring an additional 92 shares in the last quarter. CWM LLC grew its holdings in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. CWM LLC now owns 3,724 shares of the company’s stock worth $1,814,000 after purchasing an additional 28 shares during the period. Valeo Financial Advisors LLC boosted its position in shares of IDEXX Laboratories by 8.1% in the second quarter. Valeo Financial Advisors LLC now owns 468 shares of the company’s stock worth $228,000 after buying an additional 35 shares during the period. Csenge Advisory Group lifted its position in shares of IDEXX Laboratories by 8.2% during the second quarter. Csenge Advisory Group now owns 1,020 shares of the company’s stock worth $497,000 after purchasing an additional 77 shares in the last quarter. Finally, Sax Wealth Advisors LLC purchased a new position in IDEXX Laboratories in the 2nd quarter valued at about $497,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $427.49 on Friday. The company has a market capitalization of $35.01 billion, a PE ratio of 41.22, a P/E/G ratio of 3.95 and a beta of 1.37. 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 simple moving average of $445.99 and a 200 day simple moving average of $475.13. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the prior year, the business posted $2.53 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IDXX. 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. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday. Barclays dropped their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $546.56.

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.