IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 835 shares of the company’s stock after buying an additional 83 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in IDXX. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories in the first quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. increased 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 buying an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.5 %

Shares of IDXX stock opened at $418.61 on Thursday. IDEXX Laboratories, Inc. has a 1 year low of $404.74 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a market capitalization of $34.28 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 3.67 and a beta of 1.36. The stock has a fifty day moving average of $464.08 and a two-hundred day moving average of $481.54.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping 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 business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the company earned $2.53 earnings per share. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on IDXX shares. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price objective 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. Barclays dropped their price objective 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. Finally, Piper Sandler restated a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.