Charles Schwab Investment Management Inc. Increases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Charles Schwab Investment Management Inc. raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 476,799 shares of the company’s stock after purchasing an additional 14,264 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of IDEXX Laboratories worth $264,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gotham Asset Management LLC lifted its holdings in IDEXX Laboratories by 79.9% during the third quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock valued at $7,620,000 after purchasing an additional 7,741 shares in the last quarter. NewEdge Wealth LLC lifted its holdings in IDEXX Laboratories by 30.4% during the third quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock valued at $279,000 after purchasing an additional 149 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in IDEXX Laboratories by 25.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock valued at $24,196,000 after purchasing an additional 8,831 shares in the last quarter. Carderock Capital Management Inc. lifted its holdings in IDEXX Laboratories by 35.7% during the fourth quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock valued at $9,112,000 after purchasing an additional 4,315 shares in the last quarter. Finally, Mitchell Capital Management Co. lifted its holdings in IDEXX Laboratories by 1.3% during the third quarter. Mitchell Capital Management Co. now owns 6,372 shares of the company’s stock valued at $2,786,000 after purchasing an additional 79 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Barclays reduced their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a research report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $580.88.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $487.07 on Thursday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The stock has a market cap of $40.23 billion, a P/E ratio of 47.15, a PEG ratio of 3.78 and a beta of 1.27. The company has a 50-day moving average price of $519.60 and a 200 day moving average price of $514.34. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same period last year, the business earned $2.05 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.05 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.