Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 44.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 610 shares of the company’s stock after acquiring an additional 188 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in IDEXX Laboratories were worth $252,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after acquiring an additional 40,349 shares during the period. Franklin Resources Inc. lifted its position in IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after purchasing an additional 34,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in IDEXX Laboratories by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after purchasing an additional 2,463 shares during the period. International Assets Investment Management LLC increased its position in IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after buying an additional 527,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after buying an additional 316,048 shares during the period. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus cut their price objective 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 issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday. Barclays dropped their target price 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. Finally, Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $517.29.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Up 1.3 %

Shares of IDXX stock opened at $423.99 on Friday. The stock has a market cap of $34.72 billion, a P/E ratio of 40.89, a PEG ratio of 3.63 and a beta of 1.36. The company’s fifty day simple moving average is $423.93 and its two-hundred day simple moving average is $454.80. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $980.32 million. During the same period in the prior year, the company earned $2.53 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Analysts predict that IDEXX Laboratories, Inc. will post 10.44 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.