Allspring Global Investments Holdings LLC Sells 10,681 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Allspring Global Investments Holdings LLC trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 31.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,173 shares of the company’s stock after selling 10,681 shares during the period. Allspring Global Investments Holdings LLC’s holdings in IDEXX Laboratories were worth $11,707,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of IDXX. Vanguard Group Inc. raised its position in IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after purchasing an additional 98,387 shares during the last quarter. American Century Companies Inc. increased its stake 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 period. Dimensional Fund Advisors LP lifted its stake in IDEXX Laboratories by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after acquiring an additional 59,519 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in IDEXX Laboratories by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after acquiring an additional 43,473 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in IDEXX Laboratories by 696.0% during the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after purchasing an additional 308,493 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on IDXX. Piper Sandler dropped their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus decreased their target price 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. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $574.13.

IDEXX Laboratories Trading Down 0.2 %

IDEXX Laboratories stock opened at $451.41 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The business’s fifty day simple moving average is $485.44 and its two-hundred day simple moving average is $489.97. The company has a market capitalization of $37.16 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 4.03 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

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.