Rafferty Asset Management LLC Buys 8,870 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Rafferty Asset Management LLC raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,900 shares of the company's stock after purchasing an additional 8,870 shares during the quarter. Rafferty Asset Management LLC's holdings in IDEXX Laboratories were worth $16,910,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sax Wealth Advisors LLC raised its position in IDEXX Laboratories by 76.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock worth $590,000 after acquiring an additional 617 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock worth $3,199,000 after purchasing an additional 800 shares in the last quarter. Paragon Capital Management Inc. lifted its stake in IDEXX Laboratories by 25.7% during the fourth quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock valued at $1,579,000 after purchasing an additional 782 shares during the last quarter. Manitou Investment Management Ltd. boosted its holdings in IDEXX Laboratories by 491.0% during the fourth quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company's stock worth $21,582,000 after buying an additional 43,369 shares in the last quarter. Finally, Fiera Capital Corp grew its position in IDEXX Laboratories by 12.3% in the fourth quarter. Fiera Capital Corp now owns 141,198 shares of the company's stock worth $58,377,000 after buying an additional 15,463 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IDXX shares. Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Bank of America lifted 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. StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Stifel Nicolaus raised their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday. Finally, Piper Sandler boosted 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 research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $536.00.

IDEXX Laboratories Stock Down 0.9%

Shares of NASDAQ:IDXX traded down $4.52 during midday trading on Tuesday, hitting $517.16. 606,984 shares of the stock were exchanged, compared to its average volume of 648,678. The business's fifty day simple moving average is $433.47 and its two-hundred day simple moving average is $432.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $545.43. The company has a market capitalization of $41.59 billion, a PE ratio of 48.47, a P/E/G ratio of 3.41 and a beta of 1.52.

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

About IDEXX Laboratories

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.