Citigroup Inc. Sells 7,998 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Citigroup Inc. cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 133,279 shares of the company’s stock after selling 7,998 shares during the period. Citigroup Inc. owned approximately 0.16% of IDEXX Laboratories worth $67,335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in IDXX. Advisors Asset Management Inc. boosted its stake in IDEXX Laboratories by 28.0% during the 1st quarter. Advisors Asset Management Inc. now owns 1,984 shares of the company’s stock valued at $1,071,000 after purchasing an additional 434 shares during the last quarter. LRI Investments LLC purchased a new position in IDEXX Laboratories in the 1st quarter worth about $63,000. Lazard Asset Management LLC lifted its stake in IDEXX Laboratories by 450.5% during the 1st quarter. Lazard Asset Management LLC now owns 37,642 shares of the company’s stock valued at $20,323,000 after acquiring an additional 30,804 shares during the period. BOKF NA boosted its holdings in shares of IDEXX Laboratories by 1.5% during the 1st quarter. BOKF NA now owns 3,559 shares of the company’s stock valued at $1,895,000 after acquiring an additional 53 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in shares of IDEXX Laboratories in the first quarter worth approximately $501,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 0.3 %

Shares of NASDAQ:IDXX opened at $417.24 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a market cap of $34.17 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 3.65 and a beta of 1.36. The stock has a 50 day moving average of $460.86 and a 200 day moving average of $480.68. 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 (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share 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 for the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the previous year, the company earned $2.53 EPS. IDEXX Laboratories’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IDXX. Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. 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 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $552.38.

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.