Chevy Chase Trust Holdings LLC Has $22.31 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Chevy Chase Trust Holdings LLC reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 44,149 shares of the company’s stock after selling 988 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in IDEXX Laboratories were worth $22,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FSA Wealth Management LLC bought a new position in IDEXX Laboratories in the third quarter valued at $25,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of 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 valued at $29,000 after acquiring an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of 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 acquiring an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in IDEXX Laboratories during the third quarter worth about $37,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $432.11 on Wednesday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The company has a market cap of $35.39 billion, a P/E ratio of 41.67, a P/E/G ratio of 3.76 and a beta of 1.37. The firm’s fifty day moving average price is $448.89 and its two-hundred day moving average price is $475.75. 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 (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same period in the previous year, the company earned $2.53 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IDXX. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Barclays lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. JPMorgan Chase & Co. lowered their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Finally, Piper Sandler restated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $546.56.

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.