Citizens Financial Group Inc. RI Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Citizens Financial Group Inc. RI increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 853 shares of the company’s stock after buying an additional 178 shares during the period. Citizens Financial Group Inc. RI’s holdings in IDEXX Laboratories were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IDXX. International Assets Investment Management LLC grew its position in shares of IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after buying an additional 527,460 shares during the period. Clearbridge Investments LLC grew its holdings in IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after purchasing an additional 308,493 shares during the period. Vontobel Holding Ltd. increased its stake in shares of IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after purchasing an additional 213,731 shares in the last quarter. American Century Companies Inc. lifted its holdings 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 purchasing an additional 177,226 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of IDEXX Laboratories by 4,193.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after purchasing an additional 125,498 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.3 %

Shares of IDXX stock opened at $417.24 on Friday. 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, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The stock has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.65 and a beta of 1.36. The firm’s 50 day moving average is $460.86 and its 200 day moving average is $480.68.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $2.53 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays reduced their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their target price 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $552.38.

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.