Cerity Partners LLC Grows Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cerity Partners LLC grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,924 shares of the company’s stock after purchasing an additional 2,202 shares during the period. Cerity Partners LLC’s holdings in IDEXX Laboratories were worth $5,519,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in IDXX. B. Riley Wealth Advisors Inc. lifted its holdings in IDEXX Laboratories by 35.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,879 shares of the company’s stock worth $1,015,000 after buying an additional 495 shares in the last quarter. Tidal Investments LLC boosted its holdings in IDEXX Laboratories by 71.4% in the first quarter. Tidal Investments LLC now owns 4,373 shares of the company’s stock valued at $2,361,000 after purchasing an additional 1,821 shares during the last quarter. Hancock Whitney Corp acquired a new stake in IDEXX Laboratories during the 1st quarter valued at approximately $220,000. LRI Investments LLC acquired a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $57,000. Finally, Swedbank AB acquired a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $21,013,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 1.1 %

Shares of NASDAQ:IDXX opened at $421.76 on Friday. The company has a 50 day moving average of $453.61 and a 200-day moving average of $478.67. 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 firm has a market cap of $34.54 billion, a P/E ratio of 40.67, a P/E/G ratio of 3.74 and a beta of 1.36. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the company posted $2.53 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IDXX shares. Barclays dropped their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. 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. Piper Sandler restated a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.