Sone Capital Management LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sone Capital Management LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,276 shares of the company's stock, valued at approximately $5,902,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $30,000. Colonial Trust Co SC raised its holdings in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares during the period. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth $38,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after buying an additional 81 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $518.10 on Monday. The stock has a market capitalization of $41.67 billion, a PE ratio of 48.56, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The business's fifty day moving average price is $431.28 and its 200 day moving average price is $431.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $545.43.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on IDXX shares. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. 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 stock. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $524.75.

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.

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