HM Payson & Co. Has $11.80 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HM Payson & Co. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% in the third quarter, HoldingsChannel.com reports. The firm owned 23,353 shares of the company’s stock after selling 952 shares during the quarter. HM Payson & Co.’s holdings in IDEXX Laboratories were worth $11,798,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its holdings in shares of IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after purchasing an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $20,418,000. Oppenheimer Asset Management Inc. increased its holdings in shares of IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after purchasing an additional 1,453 shares in the last quarter. Vanguard Group Inc. grew its holdings in IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after acquiring an additional 98,387 shares during the period. Finally, BNP Paribas acquired a new stake in IDEXX Laboratories during the 1st quarter worth $1,031,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered 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. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. JPMorgan Chase & Co. dropped 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. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Trading Down 9.1 %

IDEXX Laboratories stock traded down $40.88 during mid-day trading on Thursday, hitting $410.20. 149,363 shares of the stock were exchanged, compared to its average volume of 479,587. The firm’s fifty day simple moving average is $481.87 and its two-hundred day simple moving average is $488.22. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock has a market capitalization of $33.88 billion, a price-to-earnings ratio of 39.71, a PEG ratio of 4.03 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.67 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current 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.