IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 27.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,900 shares of the company’s stock after acquiring an additional 8,870 shares during the period. Rafferty Asset Management LLC’s holdings in IDEXX Laboratories were worth $16,910,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of IDXX. Norges Bank acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth about $412,258,000. Flossbach Von Storch SE raised its position in shares of IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after acquiring an additional 464,791 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth about $156,412,000. William Blair Investment Management LLC raised its position in shares of IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after acquiring an additional 369,471 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of IDEXX Laboratories by 221.3% in the fourth quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company’s stock worth $182,459,000 after acquiring an additional 303,966 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on IDXX shares. Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Bank of America boosted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $524.75.

IDEXX Laboratories Stock Up 0.5%

Shares of NASDAQ IDXX opened at $511.99 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $547.22. The stock has a market cap of $41.18 billion, a PE ratio of 47.98, a P/E/G ratio of 3.41 and a beta of 1.52. 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 company has a 50-day moving average of $429.46 and a 200 day moving average of $430.94.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. During the same quarter in the prior year, the company earned $2.71 EPS. IDEXX Laboratories’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS 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.