Principal Financial Group Inc. Decreases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Principal Financial Group Inc. reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730,470 shares of the company's stock after selling 23,646 shares during the period. Principal Financial Group Inc. owned about 0.89% of IDEXX Laboratories worth $369,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atomi Financial Group Inc. grew its position in shares of IDEXX Laboratories by 3.4% in the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company's stock valued at $344,000 after purchasing an additional 21 shares during the last quarter. Eads & Heald Wealth Management increased its position in IDEXX Laboratories by 0.8% during the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company's stock worth $1,309,000 after buying an additional 22 shares in the last quarter. LRI Investments LLC raised its holdings in shares of IDEXX Laboratories by 21.7% in the second quarter. LRI Investments LLC now owns 129 shares of the company's stock worth $63,000 after acquiring an additional 23 shares during the last quarter. Sovereign Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company's stock worth $237,000 after acquiring an additional 23 shares during the last quarter. Finally, Mather Group LLC. lifted its position in shares of IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company's stock valued at $312,000 after acquiring an additional 23 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on IDXX shares. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a research report on Monday. Piper Sandler reissued a "neutral" rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a "buy" rating and a $580.00 target price on the stock. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a report on Friday, October 11th. Finally, StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $552.38.

IDEXX Laboratories Trading Up 2.3 %

Shares of NASDAQ IDXX traded up $9.58 during trading on Thursday, hitting $433.00. 958,646 shares of the company traded hands, compared to its average volume of 497,843. The firm has a market capitalization of $35.46 billion, a P/E ratio of 41.61, a P/E/G ratio of 3.61 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 company has a 50-day moving average price of $474.87 and a 200-day moving average price of $485.88. IDEXX Laboratories, Inc. has a 1 year low of $404.74 and a 1 year high of $583.39.

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, beating analysts' consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm'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 earnings per share. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

IDEXX Laboratories 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.