OLD National Bancorp IN Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

OLD National Bancorp IN lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 600 shares of the company’s stock after selling 28 shares during the period. OLD National Bancorp IN’s holdings in IDEXX Laboratories were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IDXX. Atomi Financial Group Inc. raised its stake in shares of IDEXX Laboratories by 3.4% during the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after buying an additional 21 shares in the last quarter. Eads & Heald Wealth Management grew its holdings 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 acquiring an additional 22 shares during the period. LRI Investments LLC raised its position in 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 in the last quarter. Sovereign Financial Group Inc. lifted its holdings in IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after acquiring an additional 23 shares during the period. Finally, Mather Group LLC. boosted its position in shares of IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing 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 equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. 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 price target for the company. Piper Sandler decreased their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $457.90 on Thursday. The firm has a market cap of $37.82 billion, a price-to-earnings ratio of 44.33, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. 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 company’s 50-day moving average is $486.11 and its two-hundred day moving average is $490.23.

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