Massachusetts Financial Services Co. MA Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Massachusetts Financial Services Co. MA increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.0% in the third quarter, HoldingsChannel.com reports. The firm owned 406,086 shares of the company’s stock after buying an additional 15,521 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in IDEXX Laboratories were worth $205,163,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories during the second quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $417.24 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. 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 firm has a market capitalization of $34.17 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. The business has a 50 day simple moving average of $460.86 and a 200-day simple moving average of $480.70.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating 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 company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the prior year, the business earned $2.53 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IDXX shares. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report 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 reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus 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.