Empirical Finance LLC Purchases 65 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Empirical Finance LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,887 shares of the company’s stock after purchasing an additional 65 shares during the period. Empirical Finance LLC’s holdings in IDEXX Laboratories were worth $1,459,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in IDEXX Laboratories in the 1st quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings 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 acquiring an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $420.91 on Friday. The company has a market capitalization of $34.47 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 3.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39. The company has a 50-day simple moving average of $468.32 and a 200 day simple moving average of $482.80.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period last year, the firm posted $2.53 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on IDXX. Barclays decreased their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus lowered their price objective 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. Finally, JPMorgan Chase & Co. cut 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $552.38.

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.