Raymond James Trust N.A. Buys 1,561 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Raymond James Trust N.A. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 67.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,879 shares of the company’s stock after purchasing an additional 1,561 shares during the quarter. Raymond James Trust N.A.’s holdings in IDEXX Laboratories were worth $1,960,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in shares of IDEXX Laboratories by 46.0% in 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 in the last quarter. International Assets Investment Management LLC lifted its stake in IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after acquiring an additional 527,460 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of IDEXX Laboratories by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after acquiring an additional 59,519 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of IDEXX Laboratories by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company’s stock worth $205,163,000 after purchasing an additional 15,521 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of IDEXX Laboratories by 696.0% in 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. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.3 %

IDXX stock opened at $417.24 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The stock has a market capitalization of $34.17 billion, a price-to-earnings ratio of 40.24, a PEG ratio of 3.65 and a beta of 1.36. The business’s fifty day moving average price is $460.86 and its two-hundred day moving average price is $480.68.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Barclays decreased their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Stifel Nicolaus cut their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.