Apollon Wealth Management LLC Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Apollon Wealth Management LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,357 shares of the company’s stock after buying an additional 691 shares during the period. Apollon Wealth Management LLC’s holdings in IDEXX Laboratories were worth $3,717,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Versor Investments LP purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at $1,374,000. Kennebec Savings Bank purchased a new stake in IDEXX Laboratories in the 3rd quarter worth about $150,000. Ashton Thomas Securities LLC bought a new stake in IDEXX Laboratories in the third quarter worth about $37,000. Jensen Investment Management Inc. grew its stake in shares of IDEXX Laboratories by 58.0% during the third quarter. Jensen Investment Management Inc. now owns 8,090 shares of the company’s stock valued at $4,087,000 after buying an additional 2,970 shares during the last quarter. Finally, HTG Investment Advisors Inc. purchased a new stake in shares of IDEXX Laboratories in the third quarter worth approximately $204,000. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IDXX shares. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Finally, Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $426.11 on Wednesday. The stock’s 50-day moving average is $471.95 and its 200 day moving average is $484.70. IDEXX Laboratories, Inc. has a 1-year low of $404.74 and a 1-year high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market cap of $34.89 billion, a P/E ratio of 41.09, a PEG ratio of 3.78 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $2.53 EPS. Research analysts predict that IDEXX Laboratories, Inc. will post 10.43 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.