Franklin Resources Inc. Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Franklin Resources Inc. lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,412,700 shares of the company's stock after acquiring an additional 34,305 shares during the quarter. Franklin Resources Inc. owned approximately 1.73% of IDEXX Laboratories worth $675,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock valued at $2,669,890,000 after buying an additional 527,460 shares during the period. Clearbridge Investments LLC boosted its stake in IDEXX Laboratories by 696.0% during the second 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 in the last quarter. Vontobel Holding Ltd. boosted its stake in IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company's stock worth $111,229,000 after acquiring an additional 213,731 shares in the last quarter. American Century Companies Inc. increased its stake in IDEXX Laboratories by 46.0% in the second quarter. American Century Companies Inc. now owns 562,764 shares of the company's stock valued at $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of IDEXX Laboratories by 4,193.1% during the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company's stock valued at $62,601,000 after purchasing an additional 125,498 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IDXX. Piper Sandler restated a "neutral" rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average target price of $539.63.

IDEXX Laboratories Stock Down 1.2 %

NASDAQ:IDXX traded down $5.08 during trading hours on Friday, hitting $432.10. 353,727 shares of the company traded hands, compared to its average volume of 512,194. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a market cap of $35.38 billion, a PE ratio of 41.67, a PEG ratio of 3.99 and a beta of 1.37. The firm's 50-day simple moving average is $439.55 and its 200-day simple moving average is $471.81. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly 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 company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period last year, the firm earned $2.53 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. Equities analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.11% of the company's stock.

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.