Nomura Asset Management Co. Ltd. Has $33.07 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nomura Asset Management Co. Ltd. lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,464 shares of the company's stock after selling 4,613 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.08% of IDEXX Laboratories worth $33,074,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in IDEXX Laboratories during the third quarter worth about $1,263,000. Orion Portfolio Solutions LLC raised its position in shares of IDEXX Laboratories by 16.4% during the third quarter. Orion Portfolio Solutions LLC now owns 4,152 shares of the company's stock worth $2,098,000 after purchasing an additional 584 shares during the period. National Bank of Canada FI lifted its holdings in shares of IDEXX Laboratories by 98.3% during the 3rd quarter. National Bank of Canada FI now owns 62,436 shares of the company's stock valued at $31,544,000 after purchasing an additional 30,952 shares in the last quarter. iA Global Asset Management Inc. grew its position in shares of IDEXX Laboratories by 5.8% in the 3rd quarter. iA Global Asset Management Inc. now owns 11,605 shares of the company's stock valued at $5,863,000 after purchasing an additional 641 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its stake in IDEXX Laboratories by 148.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 60,279 shares of the company's stock worth $29,812,000 after purchasing an additional 35,972 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Down 1.3 %

Shares of NASDAQ:IDXX traded down $5.96 during trading on Tuesday, hitting $444.72. 695,179 shares of the company were exchanged, compared to its average volume of 513,132. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The stock has a market cap of $36.42 billion, a price-to-earnings ratio of 42.89, a P/E/G ratio of 3.98 and a beta of 1.37. 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 firm has a fifty day moving average price of $443.38 and a two-hundred day moving average price of $473.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results 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 business had revenue of $975.50 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $2.53 earnings per share. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price target on the stock. Barclays cut their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a report on Friday, October 11th. Piper Sandler restated a "neutral" rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, November 28th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $539.63.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.18% of the stock is currently owned by company insiders.

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.