R Squared Ltd Makes New $161,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

R Squared Ltd bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 390 shares of the company’s stock, valued at approximately $161,000.

Other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC increased its holdings in IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after buying an additional 26 shares during the last quarter. Berkshire Bank grew its position in shares of IDEXX Laboratories by 5.4% during the 4th quarter. Berkshire Bank now owns 1,553 shares of the company’s stock valued at $642,000 after acquiring an additional 80 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $1,544,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of IDEXX Laboratories by 182.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 164 shares of the company’s stock worth $68,000 after purchasing an additional 106 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of IDEXX Laboratories by 44.5% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 610 shares of the company’s stock worth $252,000 after purchasing an additional 188 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $418.75 on Thursday. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $34.29 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. The firm’s 50 day simple moving average is $423.92 and its 200 day simple moving average is $455.05.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) 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 company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the business posted $2.53 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IDXX. 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. Morgan Stanley decreased their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday. Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

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.