IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,265 shares of the company’s stock after purchasing an additional 131 shares during the quarter. Advisors Asset Management Inc.’s holdings in IDEXX Laboratories were worth $1,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IDXX. LRI Investments LLC acquired a new position in shares of IDEXX Laboratories during the first quarter worth about $63,000. BOKF NA increased its position in shares of IDEXX Laboratories by 1.5% during the first quarter. BOKF NA now owns 3,559 shares of the company’s stock worth $1,895,000 after acquiring an additional 53 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of IDEXX Laboratories during the first quarter worth about $501,000. In Depth Partners LLC increased its position in shares of IDEXX Laboratories by 2.8% during the first quarter. In Depth Partners LLC now owns 15,254 shares of the company’s stock worth $8,236,000 after acquiring an additional 410 shares during the last quarter. Finally, Dynasty Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth about $214,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays lowered their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $417.24 on Monday. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $460.86 and a 200-day simple moving average of $480.63. The company has a market cap of $34.17 billion, a PE ratio of 40.24, a P/E/G ratio of 3.65 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released 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 the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm’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 firm posted $2.53 earnings per share. On average, equities research analysts forecast 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.