Daiwa Securities Group Inc. grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,462 shares of the company's stock after acquiring an additional 1,510 shares during the quarter. Daiwa Securities Group Inc.'s holdings in IDEXX Laboratories were worth $8,316,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company's stock worth $274,179,000 after purchasing an additional 177,226 shares during the period. International Assets Investment Management LLC lifted its stake in shares of IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock worth $2,669,890,000 after purchasing an additional 527,460 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of IDEXX Laboratories by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company's stock worth $249,855,000 after purchasing an additional 59,519 shares during the period. Massachusetts Financial Services Co. MA raised its stake in IDEXX Laboratories by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company's stock worth $205,163,000 after acquiring an additional 15,521 shares during the period. Finally, Clearbridge Investments LLC raised its stake in IDEXX Laboratories by 696.0% during the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company's stock worth $171,891,000 after acquiring an additional 308,493 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.
IDEXX Laboratories Price Performance
Shares of IDXX stock traded down $11.27 on Tuesday, reaching $417.32. The company's stock had a trading volume of 546,871 shares, compared to its average volume of 506,387. The stock's fifty day simple moving average is $459.21 and its 200-day simple moving average is $480.12. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $34.17 billion, a price-to-earnings ratio of 41.33, a price-to-earnings-growth ratio of 3.64 and a beta of 1.36.
IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results 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 net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the firm posted $2.53 earnings per share. IDEXX Laboratories's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on IDXX shares. Stifel Nicolaus decreased 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 note on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price 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. Piper Sandler restated 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. Finally, Barclays cut their price objective 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. 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, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $552.38.
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About IDEXX Laboratories
(
Free Report)
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.
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