Daiwa Securities Group Inc. Acquires 1,510 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Daiwa Securities Group Inc. boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,462 shares of the company’s stock after buying an additional 1,510 shares during the quarter. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $8,316,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IDXX. Summit Trail Advisors LLC boosted its stake in shares of IDEXX Laboratories by 11.5% in the 3rd quarter. Summit Trail Advisors LLC now owns 784 shares of the company’s stock valued at $396,000 after purchasing an additional 81 shares during the last quarter. Centaurus Financial Inc. acquired a new position in IDEXX Laboratories in the third quarter valued at $115,000. Larson Financial Group LLC boosted its position in IDEXX Laboratories by 17,238.5% during the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock valued at $1,139,000 after acquiring an additional 2,241 shares during the last quarter. Algert Global LLC grew its holdings in IDEXX Laboratories by 1,193.5% during the 3rd quarter. Algert Global LLC now owns 9,171 shares of the company’s stock worth $4,633,000 after acquiring an additional 8,462 shares during the period. Finally, Kingsview Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the 3rd quarter worth about $507,000. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Barclays reduced their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Stifel Nicolaus reduced 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. Three 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, the company has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Up 2.7 %

Shares of NASDAQ IDXX opened at $428.59 on Tuesday. 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 company has a 50-day moving average price of $459.21 and a 200-day moving average price of $480.12. The stock has a market capitalization of $35.10 billion, a P/E ratio of 41.33, a P/E/G ratio of 3.64 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.53 EPS. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

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.