IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,097 shares of the company’s stock after acquiring an additional 20,557 shares during the period. ProShare Advisors LLC owned about 0.15% of IDEXX Laboratories worth $50,893,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $201,000. Signal Advisors Wealth LLC increased its stake in shares of IDEXX Laboratories by 25.7% during the fourth quarter. Signal Advisors Wealth LLC now owns 967 shares of the company’s stock worth $400,000 after purchasing an additional 198 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $426,000. Fifth Third Wealth Advisors LLC increased 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 stake in shares of IDEXX Laboratories by 20.5% during the fourth quarter. Outlook Wealth Advisors LLC now owns 852 shares of the company’s stock worth $352,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $511.99 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The firm has a market capitalization of $41.18 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 3.41 and a beta of 1.52. The company’s 50-day moving average is $429.46 and its two-hundred day moving average is $430.94. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $547.22.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IDXX shares. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley upped their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, Bank of America upped their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.