Dai ichi Life Insurance Company Ltd Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Dai ichi Life Insurance Company Ltd decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 29.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,057 shares of the company's stock after selling 2,586 shares during the period. Dai ichi Life Insurance Company Ltd's holdings in IDEXX Laboratories were worth $3,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories during the 2nd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock worth $29,000 after acquiring an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDXX. Barclays reduced their price target on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus decreased their price target 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. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $552.38.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded up $4.44 during trading on Wednesday, hitting $421.76. 486,187 shares of the company's stock traded hands, compared to its average volume of 506,477. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The business has a 50-day simple moving average of $455.52 and a 200-day simple moving average of $479.07. The stock has a market capitalization of $34.54 billion, a P/E ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for 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 last year, the firm posted $2.53 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS 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.