IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.7% during the third quarter, Holdings Channel.com reports. The fund owned 25,160 shares of the company’s stock after selling 690 shares during the quarter. MetLife Investment Management LLC’s holdings in IDEXX Laboratories were worth $12,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories in the 2nd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in IDEXX Laboratories by 5,700.0% in the 3rd 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 increased its stake in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 1.1 %

Shares of IDXX opened at $421.76 on Thursday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The firm has a market capitalization of $34.54 billion, a P/E ratio of 40.67, a P/E/G ratio of 3.74 and a beta of 1.36. The firm has a 50-day moving average price of $455.52 and a 200 day moving average price of $479.07. 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.53 EPS. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on IDXX shares. Barclays lowered their price target 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. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Finally, Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $552.38.

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.