Tidal Investments LLC Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tidal Investments LLC increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 83.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,591 shares of the company’s stock after acquiring an additional 5,281 shares during the quarter. Tidal Investments LLC’s holdings in IDEXX Laboratories were worth $4,792,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IDXX. Hurley Capital LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $29,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $30,000. Colonial Trust Co SC increased its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after acquiring an additional 39 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $38,000. Finally, Itau Unibanco Holding S.A. increased its holdings in IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Stifel Nicolaus raised their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research note on Monday. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Morgan Stanley raised their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $536.00.

IDEXX Laboratories Stock Down 0.9%

Shares of NASDAQ IDXX opened at $517.16 on Wednesday. The company has a market cap of $41.59 billion, a P/E ratio of 48.47, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $435.69 and a two-hundred day simple moving average of $432.77. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $530.60.

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

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.