Intech Investment Management LLC Sells 449 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Intech Investment Management LLC cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,421 shares of the company’s stock after selling 449 shares during the quarter. Intech Investment Management LLC’s holdings in IDEXX Laboratories were worth $1,223,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of IDEXX Laboratories by 4.8% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 73,477 shares of the company’s stock valued at $37,122,000 after acquiring an additional 3,382 shares during the period. Citizens Financial Group Inc. RI raised its stake in IDEXX Laboratories by 26.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 853 shares of the company’s stock worth $431,000 after purchasing an additional 178 shares in the last quarter. Moors & Cabot Inc. bought a new stake in IDEXX Laboratories in the 3rd quarter valued at about $210,000. Ontario Teachers Pension Plan Board acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth approximately $749,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after purchasing an additional 27 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IDXX shares. Piper Sandler reiterated 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. reduced their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Barclays decreased their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Down 2.6 %

IDXX stock opened at $417.32 on Wednesday. The firm has a 50-day moving average price of $457.31 and a 200-day moving average price of $479.47. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month 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. The stock has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 3.64 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the previous year, the company posted $2.53 EPS. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

IDEXX Laboratories Company 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.