BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $6.96 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,780 shares of the company’s stock after selling 2,134 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in IDEXX Laboratories were worth $6,962,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories during the 2nd quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of IDEXX Laboratories by 5,700.0% during the third 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 last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the period. Ashton Thomas Securities LLC bought a new position in IDEXX Laboratories in the third quarter valued at approximately $37,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in IDEXX Laboratories during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $421.75 on Monday. The company has a fifty day moving average price of $451.91 and a 200 day moving average price of $477.31. The firm has a market cap of $34.54 billion, a PE ratio of 40.67, a PEG ratio of 3.68 and a beta of 1.36. 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 1-year low of $398.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) 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 the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $2.53 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays cut their target price 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. JPMorgan Chase & Co. lowered their price target 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. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.11% of the stock is owned by corporate insiders.

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.