ING Groep NV Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ING Groep NV trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,754 shares of the company’s stock after selling 1,848 shares during the period. ING Groep NV’s holdings in IDEXX Laboratories were worth $8,464,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares during the period. 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 purchasing an additional 527,460 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in IDEXX Laboratories by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after purchasing an additional 59,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of IDEXX Laboratories by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after buying an additional 43,473 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $420.91 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 $404.74 and a 12 month high of $583.39. The company has a market cap of $34.47 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. The company has a 50-day moving average price of $469.35 and a 200-day moving average price of $483.39.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on IDXX. Barclays lowered their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased 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. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Finally, Piper Sandler reissued a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $552.38.

About IDEXX Laboratories

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.