Harvest Fund Management Co. Ltd Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Harvest Fund Management Co. Ltd raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 43.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,791 shares of the company’s stock after buying an additional 1,153 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in IDEXX Laboratories were worth $1,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. Chicago Partners Investment Group LLC increased its position in shares of IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after purchasing an additional 96 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $20,418,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of IDEXX Laboratories by 13.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after acquiring an additional 1,453 shares during the last quarter. National Pension Service grew its position in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after acquiring an additional 12,647 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its stake in IDEXX Laboratories by 45.3% in the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after acquiring an additional 3,966 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target 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. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus 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 firm’s fifty day moving average is $459.21 and its 200 day moving average is $480.12. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 3.64 and a beta of 1.36.

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

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.