Assenagon Asset Management S.A. Has $60.12 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Assenagon Asset Management S.A. increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 119,001 shares of the company’s stock after purchasing an additional 35,750 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of IDEXX Laboratories worth $60,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IDXX. Nordea Investment Management AB boosted its stake in shares of IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after buying an additional 1,839 shares during the period. Manning & Napier Advisors LLC acquired a new position in IDEXX Laboratories in the second quarter valued at about $20,418,000. Oppenheimer Asset Management Inc. grew its stake in IDEXX Laboratories by 13.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares in the last quarter. Vanguard Group Inc. increased its holdings in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the period. Finally, BNP Paribas acquired a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $1,031,000. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. JPMorgan Chase & Co. decreased their price target 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. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus dropped their target price on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $452.27 on Friday. The business has a 50 day moving average of $486.11 and a 200-day moving average of $490.23. The company has a market capitalization of $37.35 billion, a P/E ratio of 43.78, a P/E/G ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business posted $2.67 EPS. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

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.