Principal Securities Inc. Invests $875,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Principal Securities Inc. purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,577 shares of the company's stock, valued at approximately $875,000.

Other institutional investors have also added to or reduced their stakes in the company. Wealthspire Advisors LLC raised its holdings in IDEXX Laboratories by 39.2% in the 4th quarter. Wealthspire Advisors LLC now owns 2,457 shares of the company's stock valued at $1,364,000 after acquiring an additional 692 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of IDEXX Laboratories by 8.7% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,264 shares of the company's stock worth $702,000 after buying an additional 101 shares in the last quarter. National Pension Service increased its holdings in IDEXX Laboratories by 2.3% in the 4th quarter. National Pension Service now owns 165,614 shares of the company's stock worth $91,924,000 after purchasing an additional 3,679 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in IDEXX Laboratories in the 4th quarter worth about $241,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in IDEXX Laboratories by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,799 shares of the company's stock worth $264,647,000 after purchasing an additional 14,264 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a "buy" rating in a research note on Wednesday, January 17th. William Blair reissued an "outperform" rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays lowered their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 6th. Finally, Piper Sandler downgraded IDEXX Laboratories from an "overweight" rating to a "neutral" rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $580.88.

IDEXX Laboratories Trading Down 1.3 %

Shares of IDXX traded down $6.80 during mid-day trading on Monday, hitting $503.02. 372,963 shares of the company's stock traded hands, compared to its average volume of 445,109. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The firm has a market capitalization of $41.54 billion, a P/E ratio of 48.76, a PEG ratio of 4.01 and a beta of 1.27. The business's 50-day moving average price is $515.08 and its 200-day moving average price is $515.93.

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.