IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.2% during the third quarter, HoldingsChannel.com reports. The fund owned 10,924 shares of the company’s stock after buying an additional 2,202 shares during the period. Cerity Partners LLC’s holdings in IDEXX Laboratories were worth $5,519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares during the period. International Assets Investment Management LLC raised its holdings in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after acquiring an additional 527,460 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of IDEXX Laboratories by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after acquiring an additional 59,519 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of IDEXX Laboratories by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company’s stock valued at $205,163,000 after acquiring an additional 15,521 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after purchasing an additional 308,493 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Barclays decreased their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research report 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 report on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Performance

IDXX stock opened at $421.76 on Friday. The firm has a 50 day moving average of $453.61 and a two-hundred day moving average of $478.67. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a market capitalization of $34.54 billion, a price-to-earnings ratio of 40.67, a P/E/G ratio of 3.74 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.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the prior year, the company posted $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal 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.