Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,258 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,676 shares of the company’s stock after purchasing an additional 2,258 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IDEXX Laboratories were worth $18,024,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its holdings in IDEXX Laboratories by 16.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after acquiring an additional 96 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of IDEXX Laboratories during the second quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. lifted its holdings in IDEXX Laboratories by 13.8% during the 2nd 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 during the last quarter. National Pension Service boosted its stake in IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after purchasing an additional 12,647 shares during the period. Finally, EFG Asset Management Americas Corp. grew its holdings in IDEXX Laboratories by 45.3% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after buying an additional 3,966 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent research reports. Piper Sandler reissued a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their target price on shares of 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 lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, 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 research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Down 0.0 %

Shares of IDXX opened at $421.75 on Friday. The firm has a 50 day simple moving average of $451.91 and a two-hundred day simple moving average of $478.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The company has a market cap of $34.53 billion, a P/E ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the previous year, the firm earned $2.53 EPS. IDEXX Laboratories’s revenue was up 6.6% on a year-over-year basis. Research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.11% of the stock is currently owned by corporate insiders.

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.