IDEXX Laboratories (NASDAQ:IDXX) Hits New 12-Month Low – Here’s What Happened

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $401.64 and last traded at $410.98, with a volume of 75450 shares traded. The stock had previously closed at $418.61.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IDXX shares. Barclays decreased their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped 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 report on Friday, October 11th. Finally, Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Trading Down 0.3 %

The firm has a market capitalization of $34.17 billion, a price-to-earnings ratio of 40.24, a price-to-earnings-growth ratio of 3.63 and a beta of 1.36. 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 50 day moving average is $460.86 and its 200 day moving average is $480.70.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Hedge Funds Weigh In On IDEXX Laboratories

A number of institutional investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its position in shares of IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after acquiring an additional 96 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. raised its stake in IDEXX Laboratories by 13.8% during the 2nd 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 during the period. National Pension Service lifted its holdings in shares of IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after purchasing an additional 12,647 shares in the last quarter. Finally, EFG Asset Management Americas Corp. boosted its position in shares of IDEXX Laboratories by 45.3% in the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after buying an additional 3,966 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

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.