Mediolanum International Funds Ltd Has $13.93 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mediolanum International Funds Ltd lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 52.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,269 shares of the company’s stock after acquiring an additional 9,388 shares during the period. Mediolanum International Funds Ltd’s holdings in IDEXX Laboratories were worth $13,933,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in IDXX. Riverview Trust Co purchased a new stake in IDEXX Laboratories during the first quarter valued at about $26,000. OneAscent Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the first quarter worth approximately $206,000. Vicus Capital bought a new position in shares of IDEXX Laboratories in the first quarter worth approximately $210,000. Aviance Capital Partners LLC bought a new position in IDEXX Laboratories during the first quarter valued at approximately $405,000. Finally, Oak Thistle LLC bought a new position in IDEXX Laboratories during the first quarter valued at approximately $297,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded up $0.12 during trading on Friday, hitting $452.39. The stock had a trading volume of 135,965 shares, compared to its average volume of 475,313. The stock has a 50-day simple moving average of $486.11 and a two-hundred day simple moving average of $490.23. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $37.36 billion, a price-to-earnings ratio of 43.92, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

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

Wall Street Analyst Weigh In

IDXX has been the topic of several recent analyst reports. Stifel Nicolaus cut 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. BTIG Research assumed coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Piper Sandler reduced their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

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.