Tidal Investments LLC Increases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tidal Investments LLC boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,310 shares of the company’s stock after acquiring an additional 444 shares during the quarter. Tidal Investments LLC’s holdings in IDEXX Laboratories were worth $3,188,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of IDEXX Laboratories by 136.2% in the second quarter. Blue Trust Inc. now owns 744 shares of the company’s stock worth $402,000 after buying an additional 429 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of IDEXX Laboratories by 6.8% during the 2nd quarter. Raymond James & Associates now owns 79,406 shares of the company’s stock worth $38,687,000 after purchasing an additional 5,072 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of IDEXX Laboratories by 5.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 6,666 shares of the company’s stock worth $3,248,000 after purchasing an additional 328 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of IDEXX Laboratories by 3.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,755 shares of the company’s stock valued at $10,599,000 after purchasing an additional 780 shares in the last quarter. Finally, Capital Investment Services of America Inc. increased its holdings in shares of IDEXX Laboratories by 1.2% in the second quarter. Capital Investment Services of America Inc. now owns 41,587 shares of the company’s stock valued at $20,261,000 after purchasing an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.11% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Price Performance

IDXX opened at $432.10 on Friday. The stock’s 50-day moving average price is $439.55 and its 200 day moving average price is $471.57. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The firm has a market cap of $35.38 billion, a price-to-earnings ratio of 41.67, a PEG ratio of 3.99 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

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, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 earnings per share. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent research reports. Leerink Partners initiated coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Piper Sandler restated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $539.63.

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.