Van ECK Associates Corp Has $12.70 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Van ECK Associates Corp increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.4% in the third quarter, Holdings Channel.com reports. The firm owned 25,133 shares of the company’s stock after acquiring an additional 2,367 shares during the period. Van ECK Associates Corp’s holdings in IDEXX Laboratories were worth $12,698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $415.98 on Wednesday. The firm has a market cap of $34.24 billion, a P/E ratio of 40.11, a PEG ratio of 3.64 and a beta of 1.36. IDEXX Laboratories, Inc. has a twelve month low of $404.74 and a twelve month high of $583.39. 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 firm’s 50 day moving average price is $476.04 and its two-hundred day moving average price is $486.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates 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 for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IDXX shares. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday. JPMorgan Chase & Co. lowered 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, October 11th. Finally, BTIG Research started coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

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.