IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Swiss National Bank

Swiss National Bank decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,100 shares of the company’s stock after selling 900 shares during the period. Swiss National Bank owned 0.30% of IDEXX Laboratories worth $123,829,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in shares of IDEXX Laboratories by 16.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after purchasing an additional 96 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $20,418,000. Oppenheimer Asset Management Inc. boosted its stake in shares of IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after buying an additional 1,453 shares in the last quarter. National Pension Service boosted its stake in shares of IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after buying an additional 12,647 shares in the last quarter. Finally, EFG Asset Management Americas Corp. boosted its stake in shares of IDEXX Laboratories by 45.3% in the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after buying an additional 3,966 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $419.83 on Tuesday. The firm has a market capitalization of $34.38 billion, a P/E ratio of 40.49, a PEG ratio of 3.67 and a beta of 1.36. The stock has a fifty day moving average price of $467.11 and a 200 day moving average price of $482.44. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) 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. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the business earned $2.53 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IDXX shares. Piper Sandler restated a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Finally, Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.