Mufg Securities Americas Inc. Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mufg Securities Americas Inc. bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,209 shares of the company's stock, valued at approximately $500,000.

Several other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in IDEXX Laboratories during the fourth quarter valued at about $412,258,000. Flossbach Von Storch SE increased its stake in shares of IDEXX Laboratories by 5,439.3% during the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock worth $195,696,000 after purchasing an additional 464,791 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $156,412,000. William Blair Investment Management LLC lifted its stake in IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after purchasing an additional 369,471 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in IDEXX Laboratories by 221.3% during the fourth quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company's stock valued at $182,459,000 after purchasing an additional 303,966 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

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

IDEXX Laboratories Price Performance

IDXX stock traded up $3.58 during mid-day trading on Monday, hitting $521.68. The company had a trading volume of 427,581 shares, compared to its average volume of 648,845. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 48.89, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a 50-day moving average price of $431.28 and a 200 day moving average price of $431.45. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. 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 issued its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million for 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 revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 earnings per share. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.