CWA Asset Management Group LLC Purchases Shares of 609 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

CWA Asset Management Group LLC purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 609 shares of the company’s stock, valued at approximately $308,000.

Several other hedge funds have also modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc lifted its position in shares of IDEXX Laboratories by 0.9% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 39,902 shares of the company’s stock valued at $20,156,000 after buying an additional 352 shares during the last quarter. Wilkinson Global Asset Management LLC increased its holdings in shares of IDEXX Laboratories by 20.0% during the third quarter. Wilkinson Global Asset Management LLC now owns 3,030 shares of the company’s stock valued at $1,531,000 after acquiring an additional 505 shares in the last quarter. Graypoint LLC increased its holdings in shares of IDEXX Laboratories by 16.9% during the third quarter. Graypoint LLC now owns 610 shares of the company’s stock valued at $308,000 after acquiring an additional 88 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of IDEXX Laboratories by 4.7% during the third quarter. Concurrent Investment Advisors LLC now owns 630 shares of the company’s stock valued at $318,000 after acquiring an additional 28 shares in the last quarter. Finally, Northstar Asset Management Inc. increased its holdings in shares of IDEXX Laboratories by 0.8% during the third quarter. Northstar Asset Management Inc. now owns 18,904 shares of the company’s stock valued at $9,551,000 after acquiring an additional 158 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IDXX has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on shares of 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 previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. BTIG Research started coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $426.11 on Wednesday. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 42.17, a PEG ratio of 3.78 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12 month low of $404.74 and a 12 month high of $583.39. The firm’s 50 day simple moving average is $471.95 and its 200-day simple moving average is $484.70. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.53 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS 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.