Allspring Global Investments Holdings LLC Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Allspring Global Investments Holdings LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 33,854 shares of the company’s stock after selling 6,917 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IDEXX Laboratories were worth $16,494,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the period. Franklin Resources Inc. lifted its stake in IDEXX Laboratories by 2.1% during the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock worth $780,303,000 after purchasing an additional 28,475 shares during the last quarter. Capital World Investors lifted its stake in IDEXX Laboratories by 1.1% during the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after purchasing an additional 11,351 shares during the last quarter. Norges Bank purchased a new stake in IDEXX Laboratories during the fourth quarter worth approximately $512,190,000. Finally, Charles Schwab Investment Management Inc. boosted its position in IDEXX Laboratories by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 476,799 shares of the company’s stock worth $264,647,000 after purchasing an additional 14,264 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on IDXX shares. Morgan Stanley decreased their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Stock Down 0.2 %

Shares of NASDAQ:IDXX opened at $481.48 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The stock’s fifty day simple moving average is $482.48 and its 200-day simple moving average is $508.15. The company has a market capitalization of $39.76 billion, a P/E ratio of 46.61, a P/E/G ratio of 3.91 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 earnings per share. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11 earnings per share for the current fiscal 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.