Raymond James & Associates Has $28.99 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Raymond James & Associates cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 27.7% during the third quarter, HoldingsChannel.com reports. The firm owned 57,383 shares of the company’s stock after selling 22,023 shares during the period. Raymond James & Associates’ holdings in IDEXX Laboratories were worth $28,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after buying an additional 1,839 shares during the period. Manning & Napier Advisors LLC bought a new stake in IDEXX Laboratories in the second quarter valued at about $20,418,000. Oppenheimer Asset Management Inc. raised its position in IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after purchasing an additional 1,453 shares in the last quarter. Vanguard Group Inc. lifted its stake in IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after purchasing an additional 98,387 shares during the period. Finally, BNP Paribas acquired a new stake in IDEXX Laboratories during the first quarter valued at approximately $1,031,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 0.8 %

Shares of NASDAQ IDXX opened at $457.90 on Thursday. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a 50-day moving average of $486.11 and a two-hundred day moving average of $490.23. The company has a market cap of $37.82 billion, a PE ratio of 44.33, a P/E/G ratio of 4.14 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IDXX shares. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Piper Sandler dropped their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $574.13.

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.