Comgest Global Investors S.A.S. Buys 12,353 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Comgest Global Investors S.A.S. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 36.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 46,308 shares of the company's stock after acquiring an additional 12,353 shares during the quarter. Comgest Global Investors S.A.S. owned about 0.06% of IDEXX Laboratories worth $23,396,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Eads & Heald Wealth Management lifted its stake in shares of IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company's stock worth $1,309,000 after acquiring an additional 22 shares during the period. LRI Investments LLC lifted its position in IDEXX Laboratories by 21.7% in the second quarter. LRI Investments LLC now owns 129 shares of the company's stock worth $63,000 after purchasing an additional 23 shares during the period. Sovereign Financial Group Inc. lifted its position in IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company's stock worth $237,000 after purchasing an additional 23 shares during the period. Mather Group LLC. lifted its position in IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company's stock worth $312,000 after purchasing an additional 23 shares during the period. Finally, Angeles Wealth Management LLC lifted its position in IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company's stock worth $545,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a "buy" rating and a $580.00 price target for the company. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. Piper Sandler reiterated a "neutral" rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, Barclays reduced their target price on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $552.38.

IDEXX Laboratories Stock Down 0.6 %

IDEXX Laboratories stock traded down $2.74 during mid-day trading on Friday, hitting $420.91. The company's stock had a trading volume of 690,183 shares, compared to its average volume of 501,792. The firm's 50 day moving average is $468.32 and its 200 day moving average is $482.80. 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 $34.47 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $404.74 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the prior year, the firm earned $2.53 EPS. The company's revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate 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.