The Manufacturers Life Insurance Company Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

The Manufacturers Life Insurance Company decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 89,475 shares of the company's stock after selling 4,716 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of IDEXX Laboratories worth $45,205,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of IDEXX Laboratories by 52,746.0% during the third 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 boosted its stake in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company's stock worth $171,891,000 after purchasing an additional 308,493 shares during the period. Vontobel Holding Ltd. grew its holdings in IDEXX Laboratories by 3,325.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company's stock valued at $111,229,000 after buying an additional 213,731 shares in the last quarter. American Century Companies Inc. raised its position in shares of IDEXX Laboratories by 46.0% during the second 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 during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of IDEXX Laboratories by 4,193.1% in the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company's stock worth $62,601,000 after buying an additional 125,498 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Down 0.0 %

IDXX stock traded down $0.01 during midday trading on Friday, reaching $421.75. 302,883 shares of the company traded hands, compared to its average volume of 505,596. The firm has a market capitalization of $34.54 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The business has a 50 day moving average of $453.61 and a 200-day moving average of $478.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The company 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%. IDEXX Laboratories's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on IDXX shares. Piper Sandler reaffirmed a "neutral" rating and set a $435.00 target price (down 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. StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday. Barclays cut their price target on IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $552.38.

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.