Empirical Finance LLC Has $1.46 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Empirical Finance LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,887 shares of the company’s stock after acquiring an additional 65 shares during the quarter. Empirical Finance LLC’s holdings in IDEXX Laboratories were worth $1,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX opened at $420.91 on Friday. The stock has a market cap of $34.47 billion, a P/E ratio of 40.59, a P/E/G ratio of 3.75 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12 month low of $404.74 and a 12 month high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $468.32 and a 200 day simple moving average of $482.80.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the prior year, the company earned $2.53 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus lowered their price objective 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. Piper Sandler reissued 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. JPMorgan Chase & Co. reduced their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $552.38.

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.