Empowered Funds LLC Buys 36 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Empowered Funds LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310 shares of the company’s stock after acquiring an additional 36 shares during the quarter. Empowered Funds LLC’s holdings in IDEXX Laboratories were worth $662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. increased its position in shares of IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares in the last quarter. International Assets Investment Management LLC grew its stake in IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after buying an additional 527,460 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of IDEXX Laboratories by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after acquiring an additional 59,519 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of IDEXX Laboratories by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after acquiring an additional 43,473 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after acquiring an additional 308,493 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $417.24 on Friday. The company has a market cap of $34.17 billion, a PE ratio of 40.24, a PEG ratio of 3.65 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company’s 50-day moving average is $460.86 and its two-hundred day moving average is $480.68.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the previous year, the firm posted $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on IDXX shares. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays reduced their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

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.