Healthcare of Ontario Pension Plan Trust Fund Acquires 58,064 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 59.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,646 shares of the company’s stock after acquiring an additional 58,064 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.19% of IDEXX Laboratories worth $78,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IDXX. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $36,000. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

IDEXX Laboratories Price Performance

IDXX stock opened at $417.32 on Wednesday. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The business has a 50-day simple moving average of $457.31 and a two-hundred day simple moving average of $479.47. The company has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 3.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last announced its 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 return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the business earned $2.53 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. Research analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

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.