STF Management LP Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

STF Management LP lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,184 shares of the company’s stock after selling 168 shares during the quarter. STF Management LP’s holdings in IDEXX Laboratories were worth $598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Crewe Advisors LLC acquired a new position in IDEXX Laboratories during the first quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in 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 buying an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $419.37 on Friday. The firm has a 50-day moving average of $462.53 and a two-hundred day moving average of $481.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The stock has a market cap of $34.34 billion, a P/E ratio of 40.44, a PEG ratio of 3.63 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.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS 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 for the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the previous year, the firm posted $2.53 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price target 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 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Barclays reduced their target price on 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, BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $552.38.

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.