Geneva Capital Management LLC Has $31 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Geneva Capital Management LLC lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,842 shares of the company’s stock after selling 1,989 shares during the quarter. Geneva Capital Management LLC owned about 0.07% of IDEXX Laboratories worth $30,995,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Blair William & Co. IL raised its stake in IDEXX Laboratories by 0.7% in the 3rd quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after acquiring an additional 7,812 shares during the period. Morgan Stanley grew its holdings in shares of IDEXX Laboratories by 4.7% during the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock worth $465,482,000 after purchasing an additional 48,095 shares in the last quarter. Northern Trust Corp grew its holdings in shares of IDEXX Laboratories by 7.7% during the third quarter. Northern Trust Corp now owns 919,191 shares of the company’s stock worth $401,935,000 after purchasing an additional 65,891 shares in the last quarter. Principal Financial Group Inc. lifted its position in IDEXX Laboratories by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock worth $356,753,000 after buying an additional 11,315 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in IDEXX Laboratories by 8.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock worth $350,373,000 after buying an additional 65,760 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several recent research reports. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a report on Tuesday, January 30th. JPMorgan Chase & Co. upped their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, Barclays decreased their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $580.88.

IDEXX Laboratories Stock Up 2.8 %

IDXX stock traded up $13.75 during midday trading on Thursday, hitting $500.82. The stock had a trading volume of 546,581 shares, compared to its average volume of 445,009. The firm has a market cap of $41.36 billion, a price-to-earnings ratio of 48.48, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. The business has a 50-day moving average of $517.91 and a two-hundred day moving average of $514.15. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current fiscal 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.