Assenagon Asset Management S.A. Purchases 35,750 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Assenagon Asset Management S.A. boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 119,001 shares of the company’s stock after purchasing an additional 35,750 shares during the period. Assenagon Asset Management S.A.’s holdings in IDEXX Laboratories were worth $60,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IDXX. Atomi Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 3.4% in the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after purchasing an additional 21 shares during the period. Eads & Heald Wealth Management boosted its holdings in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after buying an additional 22 shares in the last quarter. LRI Investments LLC grew its position in shares of IDEXX Laboratories by 21.7% during the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after buying an additional 23 shares during the period. Sovereign Financial Group Inc. increased its stake in shares of IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after acquiring an additional 23 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IDXX shares. Piper Sandler reduced their price target on shares of 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 decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Trading Down 1.2 %

Shares of IDEXX Laboratories stock opened at $452.27 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $486.11 and a 200 day simple moving average of $490.23. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a market capitalization of $37.35 billion, a P/E ratio of 43.78, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33.

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