Mufg Securities Americas Inc. Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mufg Securities Americas Inc. acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,209 shares of the company’s stock, valued at approximately $500,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth $201,000. Signal Advisors Wealth LLC raised its position in IDEXX Laboratories by 25.7% in the 4th quarter. Signal Advisors Wealth LLC now owns 967 shares of the company’s stock valued at $400,000 after purchasing an additional 198 shares in the last quarter. Oak Thistle LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth approximately $426,000. Fifth Third Wealth Advisors LLC grew its stake in shares of IDEXX Laboratories by 17.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 984 shares of the company’s stock worth $407,000 after purchasing an additional 149 shares in the last quarter. Finally, Outlook Wealth Advisors LLC increased its holdings in shares of IDEXX Laboratories by 20.5% in the 4th quarter. Outlook Wealth Advisors LLC now owns 852 shares of the company’s stock valued at $352,000 after acquiring an additional 145 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $511.99 on Friday. The company has a market capitalization of $41.18 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $547.22. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $429.46 and its 200 day moving average price is $430.94.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The firm had revenue of $998.43 million for the quarter, compared to analysts’ expectations of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 earnings per share. On average, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America upped their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley lifted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Piper Sandler lifted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $524.75.

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.