Moors & Cabot Inc. Buys Shares of 415 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Moors & Cabot Inc. purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the third quarter, Holdings Channel reports. The institutional investor purchased 415 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors also recently modified their holdings of IDXX. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories during the second quarter valued at $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of IDEXX Laboratories by 5,700.0% during the 3rd 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 in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its stake in 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 during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in IDEXX Laboratories in the second quarter worth approximately $36,000. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Piper Sandler reaffirmed 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. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Barclays decreased their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $417.24 on Monday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The business has a fifty day moving average price of $460.86 and a 200-day moving average price of $480.63. 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 P/E ratio of 40.24, a PEG ratio of 3.65 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released 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. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.53 EPS. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

IDEXX Laboratories Company 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.