Miracle Mile Advisors LLC Acquires Shares of 487 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Miracle Mile Advisors LLC acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 487 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently made changes to their positions in the business. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories during the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its holdings in IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in IDEXX Laboratories during the second quarter valued at approximately $36,000. Finally, Ashton Thomas Securities LLC acquired a new position in IDEXX Laboratories in the third quarter valued at approximately $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $428.62 on Friday. 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 stock’s 50 day simple moving average is $423.97 and its 200-day simple moving average is $458.74. The company has a market cap of $35.10 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 3.52 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data 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. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter last year, the firm posted $2.53 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IDXX. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. dropped their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $539.63.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on 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 approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.18% of the stock is owned by insiders.

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.