IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,475 shares of the company’s stock after selling 4,716 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in IDEXX Laboratories were worth $45,205,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in IDXX. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in IDEXX Laboratories in the 2nd quarter valued at $36,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IDXX has been the subject of several recent research reports. JPMorgan Chase & Co. reduced 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. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus reduced their price objective 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. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Stock Up 1.1 %

Shares of NASDAQ:IDXX opened at $421.76 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $453.61 and a two-hundred day moving average of $478.67. The stock has a market cap of $34.54 billion, a P/E ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results 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. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations 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 was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.53 EPS. On average, research analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

IDEXX Laboratories 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.