Penn Davis Mcfarland Inc. Makes New $404,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Penn Davis Mcfarland Inc. acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 800 shares of the company’s stock, valued at approximately $404,000.

A number of other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB lifted its holdings in IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after buying an additional 1,839 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth about $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 valued at $5,825,000 after purchasing an additional 1,453 shares in the last quarter. Vanguard Group Inc. grew its position in shares of IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after purchasing an additional 98,387 shares during the period. Finally, BNP Paribas acquired a new stake in IDEXX Laboratories during the 1st quarter worth approximately $1,031,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 0.5 %

Shares of NASDAQ:IDXX opened at $457.74 on Monday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The business has a 50 day moving average of $487.50 and a 200-day moving average of $491.33. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market cap of $37.80 billion, a PE ratio of 44.31, a P/E/G ratio of 4.14 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.67 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several research analyst reports. Piper Sandler reduced their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. BTIG Research began coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Stifel Nicolaus dropped their price objective on 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, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

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.