ING Groep NV Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ING Groep NV lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,754 shares of the company's stock after selling 1,848 shares during the quarter. ING Groep NV's holdings in IDEXX Laboratories were worth $8,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also 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 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 in the last quarter. Clearbridge Investments LLC lifted its position 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 buying 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 buying an additional 213,731 shares during the last quarter. American Century Companies Inc. grew its holdings in IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company's stock valued at $274,179,000 after buying an additional 177,226 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of IDEXX Laboratories by 4,193.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company's stock worth $62,601,000 after acquiring an additional 125,498 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

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

IDEXX Laboratories Stock Down 0.6 %

IDEXX Laboratories stock traded down $2.74 during midday trading on Friday, reaching $420.91. The company's stock had a trading volume of 690,183 shares, compared to its average volume of 501,792. The company has a market cap of $34.47 billion, a P/E ratio of 40.59, a P/E/G ratio of 3.75 and a beta of 1.36. 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 business has a 50-day simple moving average of $468.32 and a 200-day simple moving average of $482.80. 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 for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to analysts' expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $2.53 earnings per share. On average, research analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal 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.