IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 245,100 shares of the company’s stock after selling 900 shares during the quarter. Swiss National Bank’s holdings in IDEXX Laboratories were worth $123,829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in shares of IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after purchasing an additional 96 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. raised its position in shares of 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 period. National Pension Service raised its position in shares of IDEXX Laboratories by 7.3% during the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after purchasing an additional 12,647 shares during the period. Finally, EFG Asset Management Americas Corp. raised its position in shares of IDEXX Laboratories by 45.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after purchasing an additional 3,966 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. 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 report on Friday, October 11th. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Barclays decreased their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $419.83 on Tuesday. The stock has a fifty day moving average price of $467.11 and a two-hundred day moving average price of $482.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a market cap of $34.38 billion, a P/E ratio of 40.49, a PEG ratio of 3.67 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1 year low of $404.74 and a 1 year high of $583.39.

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

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.