ClearAlpha Technologies LP Buys Shares of 583 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ClearAlpha Technologies LP purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 583 shares of the company’s stock, valued at approximately $295,000.

Several other hedge funds also recently made changes to their positions in IDXX. Eads & Heald Wealth Management increased its holdings in IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after acquiring an additional 22 shares during the period. LRI Investments LLC grew its position in shares of IDEXX Laboratories by 21.7% during the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after purchasing an additional 23 shares in the last quarter. Sovereign Financial Group Inc. increased its holdings in shares of IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares during the period. Mather Group LLC. raised its position in shares of IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after buying an additional 23 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its stake in IDEXX Laboratories by 2.4% during the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after buying an additional 25 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDXX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price 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. Stifel Nicolaus cut 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. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Piper Sandler reissued a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Barclays decreased 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $546.56.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.18% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Trading Up 2.1 %

Shares of IDXX opened at $430.77 on Tuesday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm has a market cap of $35.28 billion, a price-to-earnings ratio of 41.54, a PEG ratio of 3.68 and a beta of 1.37. The firm has a 50 day moving average price of $451.91 and a 200-day moving average price of $477.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the previous year, the firm posted $2.53 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

IDEXX Laboratories Company 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.