Lecap Asset Management Ltd. Acquires New Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Lecap Asset Management Ltd. bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the third quarter, HoldingsChannel.com reports. The fund bought 829 shares of the company’s stock, valued at approximately $419,000.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Riverview Trust Co bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC bought a new position in IDEXX Laboratories in the second quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in IDEXX Laboratories during the 2nd quarter worth $36,000. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on IDXX shares. Piper Sandler lowered their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. cut 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. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $452.27 on Friday. The firm’s fifty day simple moving average is $486.11 and its two-hundred day simple moving average is $490.23. The firm has a market capitalization of $37.35 billion, a P/E ratio of 43.78, a P/E/G ratio of 4.14 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $2.67 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

IDEXX Laboratories 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.