Focus Partners Wealth Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Focus Partners Wealth grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 175.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,576 shares of the company's stock after acquiring an additional 25,830 shares during the quarter. Focus Partners Wealth's holdings in IDEXX Laboratories were worth $17,603,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. Flossbach Von Storch SE lifted its position in IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock valued at $195,696,000 after acquiring an additional 464,791 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in IDEXX Laboratories in the fourth quarter valued at $156,412,000. William Blair Investment Management LLC grew its holdings in shares of IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock worth $174,527,000 after purchasing an additional 369,471 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock worth $179,867,000 after purchasing an additional 316,048 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded up $2.57 during trading hours on Thursday, reaching $511.99. 469,341 shares of the stock were exchanged, compared to its average volume of 649,616. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $548.88. The stock has a market cap of $41.18 billion, a P/E ratio of 47.98, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm's 50 day moving average is $427.95 and its 200 day moving average is $430.50.

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 the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. During the same period in the prior year, the company posted $2.71 earnings per share. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. StockNews.com raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Barclays increased their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler lifted their price objective 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. Finally, Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and an average target price of $524.75.

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.