KBC Group NV Has $51 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KBC Group NV raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 41.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,948 shares of the company's stock after acquiring an additional 29,388 shares during the period. KBC Group NV owned about 0.12% of IDEXX Laboratories worth $51,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Huntington National Bank increased its holdings in shares of IDEXX Laboratories by 1.1% during the third quarter. Huntington National Bank now owns 3,979 shares of the company's stock worth $2,010,000 after buying an additional 42 shares in the last quarter. ROI Financial Advisors LLC grew its position in IDEXX Laboratories by 1.6% during the 3rd quarter. ROI Financial Advisors LLC now owns 3,997 shares of the company's stock worth $2,019,000 after acquiring an additional 64 shares during the last quarter. ICICI Prudential Asset Management Co Ltd increased its holdings in IDEXX Laboratories by 18.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 1,074 shares of the company's stock valued at $543,000 after purchasing an additional 167 shares in the last quarter. Haverford Trust Co raised its position in IDEXX Laboratories by 16.5% in the 3rd quarter. Haverford Trust Co now owns 545 shares of the company's stock valued at $275,000 after purchasing an additional 77 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in IDEXX Laboratories by 3.4% in the third quarter. Victory Capital Management Inc. now owns 142,628 shares of the company's stock worth $72,059,000 after purchasing an additional 4,696 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 0.6 %

IDXX 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 business's 50-day simple moving average is $469.35 and its 200-day simple moving average is $483.39. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39. The stock has a market cap of $34.47 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research note on Monday, November 4th. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Thursday, October 10th. Piper Sandler reiterated a "neutral" rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a report on Friday, October 11th. 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 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $552.38.

IDEXX Laboratories Company 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.