Voloridge Investment Management LLC Raises Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Voloridge Investment Management LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 142.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,511 shares of the company's stock after purchasing an additional 93,244 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.19% of IDEXX Laboratories worth $65,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritholtz Wealth Management boosted its holdings in IDEXX Laboratories by 43.8% in the 4th quarter. Ritholtz Wealth Management now owns 956 shares of the company's stock worth $395,000 after buying an additional 291 shares during the period. Merit Financial Group LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $315,000. Legal Advantage Investments Inc. grew its position in shares of IDEXX Laboratories by 29.7% during the fourth quarter. Legal Advantage Investments Inc. now owns 6,295 shares of the company's stock worth $2,603,000 after purchasing an additional 1,440 shares in the last quarter. Atomi Financial Group Inc. grew its position in shares of IDEXX Laboratories by 28.4% during the fourth quarter. Atomi Financial Group Inc. now owns 864 shares of the company's stock worth $357,000 after purchasing an additional 191 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. raised its stake in IDEXX Laboratories by 1.3% during the 4th quarter. Mogy Joel R Investment Counsel Inc. now owns 79,324 shares of the company's stock valued at $32,796,000 after purchasing an additional 1,010 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research note on Monday. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $536.00.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $517.16 on Wednesday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $530.60. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average is $435.69 and its 200 day moving average is $432.77. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 48.47, a PEG ratio of 3.41 and a beta of 1.52.

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

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