Algert Global LLC Has $4.63 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Algert Global LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,193.5% during the third quarter, Holdings Channel reports. The institutional investor owned 9,171 shares of the company’s stock after buying an additional 8,462 shares during the quarter. Algert Global LLC’s holdings in IDEXX Laboratories were worth $4,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after purchasing an additional 96 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. raised its stake in shares of IDEXX Laboratories by 13.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the last quarter. National Pension Service lifted its holdings in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after buying an additional 12,647 shares during the period. Finally, EFG Asset Management Americas Corp. boosted its stake in IDEXX Laboratories by 45.3% in the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after acquiring an additional 3,966 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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 research report on Monday, November 4th. Stifel Nicolaus cut their target price 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. Piper Sandler restated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Trading Down 0.3 %

NASDAQ IDXX 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 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 cap of $34.17 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.65 and a beta of 1.36. The stock’s 50-day moving average is $460.86 and its 200-day moving average is $480.63.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $2.53 EPS. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal 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.