Pacific Point Advisors LLC Purchases Shares of 3,183 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pacific Point Advisors LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,183 shares of the company's stock, valued at approximately $1,316,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after buying an additional 37,734 shares in the last quarter. Bamco Inc. NY lifted its stake in IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock valued at $829,163,000 after buying an additional 82,264 shares during the period. Invesco Ltd. lifted its stake in IDEXX Laboratories by 6.8% in the fourth quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock valued at $479,999,000 after buying an additional 74,324 shares during the period. Norges Bank acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $412,258,000. Finally, Northern Trust Corp raised its position in shares of IDEXX Laboratories by 18.6% during the fourth quarter. Northern Trust Corp now owns 912,874 shares of the company's stock worth $377,419,000 after purchasing an additional 143,369 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on IDXX. Stifel Nicolaus increased their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday. Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Morgan Stanley upped their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average price target of $536.00.

IDEXX Laboratories Trading Up 0.8%

Shares of IDXX stock opened at $504.83 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The firm has a market cap of $40.60 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The company has a 50-day moving average of $439.05 and a two-hundred day moving average of $433.87. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.60.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 EPS. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 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.

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