Glenmede Trust Co. NA Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Glenmede Trust Co. NA boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.6% in the third quarter, Holdings Channel.com reports. The firm owned 1,874 shares of the company’s stock after buying an additional 48 shares during the quarter. Glenmede Trust Co. NA’s holdings in IDEXX Laboratories were worth $947,000 as of its most recent SEC filing.

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

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $430.77 on Tuesday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $451.91 and a 200-day moving average price of $477.31. The firm has a market capitalization of $35.28 billion, a PE ratio of 41.54, a price-to-earnings-growth ratio of 3.68 and a beta of 1.36.

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

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays reduced their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday. They issued an “outperform” rating and a $500.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $546.56.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.11% of the stock is owned by corporate insiders.

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.