3,320 Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,320 shares of the company’s stock, valued at approximately $1,677,000.

A number of other hedge funds also recently bought and sold shares of the stock. ClearAlpha Technologies LP acquired a new stake in IDEXX Laboratories in the third quarter valued at approximately $295,000. Benjamin Edwards Inc. grew its holdings in IDEXX Laboratories by 661.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,880 shares of the company’s stock worth $950,000 after acquiring an additional 1,633 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at $671,000. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter worth $25,000. Finally, Erste Asset Management GmbH acquired a new position in shares of IDEXX Laboratories during the third quarter worth $1,428,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday. They set an “outperform” rating and a $500.00 target price for the company. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $546.56.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.18% of the company’s stock.

IDEXX Laboratories Stock Up 0.3 %

IDXX stock opened at $432.11 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month 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 $35.39 billion, a price-to-earnings ratio of 41.67, a price-to-earnings-growth ratio of 3.76 and a beta of 1.37. The company has a fifty day moving average price of $448.89 and a 200 day moving average price of $475.75.

IDEXX Laboratories (NASDAQ:IDXX) last announced its 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. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current 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.