IDEXX Laboratories, Inc. (NASDAQ:IDXX) Short Interest Update

IDEXX Laboratories, Inc. (NASDAQ:IDXX) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,500,000 shares, an increase of 7.1% from the December 15th total of 1,400,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 645,100 shares, the days-to-cover ratio is currently 2.3 days.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $419.26 on Monday. IDEXX Laboratories has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a market cap of $34.33 billion, a P/E ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. The business’s 50 day moving average is $423.60 and its two-hundred day moving average is $458.00.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating 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 firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the prior year, the company earned $2.53 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts expect that IDEXX Laboratories will post 10.44 EPS for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several hedge funds have recently made changes to their positions in the stock. FSA Wealth Management LLC bought a new stake in IDEXX Laboratories in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories in the fourth quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in IDEXX Laboratories during the second quarter valued at approximately $36,000. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Stifel Nicolaus decreased their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.86.

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.