Sumitomo Mitsui Trust Group Inc. Acquires 3,233 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 197,534 shares of the company's stock after purchasing an additional 3,233 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of IDEXX Laboratories worth $99,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the 1st quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter valued at $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company's stock worth $29,000 after buying an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock valued at $34,000 after buying an additional 60 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 0.6 %

NASDAQ:IDXX traded down $2.65 during mid-day trading on Thursday, reaching $427.17. The stock had a trading volume of 218,646 shares, compared to its average volume of 499,423. The stock has a market cap of $34.98 billion, a P/E ratio of 41.45, a PEG ratio of 3.72 and a beta of 1.36. The business's 50 day moving average is $470.26 and its 200 day moving average is $483.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a fifty-two week low of $404.74 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Thursday, October 10th. 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. Piper Sandler reissued a "neutral" rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a "buy" rating and a $580.00 price objective on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $552.38.

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.