Freedom Investment Management Inc. Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Freedom Investment Management Inc. boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,539 shares of the company’s stock after buying an additional 81 shares during the quarter. Freedom Investment Management Inc.’s holdings in IDEXX Laboratories were worth $778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Eads & Heald Wealth Management boosted its stake in IDEXX Laboratories by 0.8% during the second 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 during the period. LRI Investments LLC boosted its stake in IDEXX Laboratories by 21.7% during the second 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. boosted its stake in IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after buying an additional 23 shares during the period. Mather Group LLC. boosted its stake in IDEXX Laboratories by 3.9% during the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after buying an additional 23 shares during the period. Finally, Angeles Wealth Management LLC boosted its stake in IDEXX Laboratories by 2.4% during the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after buying an additional 25 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

IDXX stock opened at $421.76 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The business has a 50-day moving average price of $453.61 and a 200 day moving average price of $478.67. The company has a market capitalization of $34.54 billion, a P/E ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.53 earnings per share. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on IDXX shares. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays decreased their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, 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. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $552.38.

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.