KBC Group NV Grows Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KBC Group NV increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 41.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,948 shares of the company’s stock after purchasing an additional 29,388 shares during the quarter. KBC Group NV owned 0.12% of IDEXX Laboratories worth $51,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Huntington National Bank boosted its holdings in IDEXX Laboratories by 1.1% in the 3rd quarter. Huntington National Bank now owns 3,979 shares of the company’s stock valued at $2,010,000 after purchasing an additional 42 shares in the last quarter. ROI Financial Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 1.6% in the 3rd quarter. ROI Financial Advisors LLC now owns 3,997 shares of the company’s stock valued at $2,019,000 after buying an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of IDEXX Laboratories by 18.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 1,074 shares of the company’s stock valued at $543,000 after buying an additional 167 shares in the last quarter. Haverford Trust Co boosted its stake in shares of IDEXX Laboratories by 16.5% in the third quarter. Haverford Trust Co now owns 545 shares of the company’s stock valued at $275,000 after buying an additional 77 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in IDEXX Laboratories by 3.4% during the third quarter. Victory Capital Management Inc. now owns 142,628 shares of the company’s stock worth $72,059,000 after acquiring an additional 4,696 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. 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. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. BTIG Research started coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, Barclays lowered their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Trading Down 1.4 %

Shares of IDXX opened at $423.65 on Friday. 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 1-year low of $404.74 and a 1-year high of $583.39. The stock has a market cap of $34.69 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. The firm has a 50 day simple moving average of $470.26 and a 200-day simple moving average of $483.80.

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 the consensus estimate 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 the consensus estimate of $980.32 million. During the same quarter last year, the business posted $2.53 earnings per share. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

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.