Short Interest in IDEXX Laboratories, Inc. (NASDAQ:IDXX) Increases By 7.1%

IDEXX Laboratories, Inc. (NASDAQ:IDXX) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,500,000 shares, an increase of 7.1% from the December 15th total of 1,400,000 shares. Based on an average daily volume of 645,100 shares, the short-interest ratio is presently 2.3 days. Approximately 1.9% of the shares of the stock are sold short.

IDEXX Laboratories Trading Down 2.2 %

Shares of NASDAQ:IDXX traded down $9.36 during trading on Friday, reaching $419.26. The stock had a trading volume of 798,777 shares, compared to its average volume of 426,678. IDEXX Laboratories has a 52 week low of $398.50 and a 52 week high of $583.39. The firm’s fifty day moving average is $423.60 and its 200 day moving average is $458.00. The stock has a market cap of $34.33 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 3.52 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 issued its quarterly 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 during the quarter, compared to the consensus estimate of $980.32 million. During the same period last year, the business posted $2.53 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IDXX shares. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. 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. lowered their price objective 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. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $523.86.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently modified their holdings of the business. FSA Wealth Management LLC bought a new position in IDEXX Laboratories during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. 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. Ashton Thomas Securities LLC bought a new stake in IDEXX Laboratories in the 3rd quarter valued at about $37,000. Finally, Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $31,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Company 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.