Gulf International Bank UK Ltd Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Gulf International Bank UK Ltd lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,563 shares of the company’s stock after selling 292 shares during the quarter. Gulf International Bank UK Ltd’s holdings in IDEXX Laboratories were worth $3,315,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Crewe Advisors LLC purchased a new position in IDEXX Laboratories in the first quarter worth $26,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. lifted its position 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. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in IDEXX Laboratories by 750.0% in 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 during the last quarter. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Barclays lowered their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler restated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $415.98 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The firm’s fifty day simple moving average is $476.04 and its 200 day simple moving average is $486.32. The stock has a market cap of $34.24 billion, a P/E ratio of 40.11, a price-to-earnings-growth ratio of 3.64 and a beta of 1.36. IDEXX Laboratories, Inc. has a twelve month low of $404.74 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million for 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%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.53 earnings per share. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

About IDEXX Laboratories

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.