Kingsview Wealth Management LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kingsview Wealth Management LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,003 shares of the company’s stock, valued at approximately $507,000.

A number of other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC lifted its holdings in IDEXX Laboratories by 25.2% in the 3rd quarter. Cerity Partners LLC now owns 10,924 shares of the company’s stock valued at $5,519,000 after purchasing an additional 2,202 shares in the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of IDEXX Laboratories in the third quarter worth about $1,193,000. Raymond James Trust N.A. lifted its stake in shares of IDEXX Laboratories by 67.3% in the third quarter. Raymond James Trust N.A. now owns 3,879 shares of the company’s stock worth $1,960,000 after buying an additional 1,561 shares in the last quarter. Pacer Advisors Inc. boosted its position in IDEXX Laboratories by 14.4% during the third quarter. Pacer Advisors Inc. now owns 13,742 shares of the company’s stock worth $6,943,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in IDEXX Laboratories by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company’s stock valued at $205,163,000 after acquiring an additional 15,521 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IDXX has been the topic of several recent research reports. Piper Sandler restated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Barclays lowered their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $421.76 on Friday. The firm has a 50-day simple moving average of $453.61 and a two-hundred day simple moving average of $478.67. The stock has a market cap of $34.54 billion, a PE ratio of 40.67, a P/E/G ratio of 3.74 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. 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 posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the firm earned $2.53 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

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.