IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,240 shares of the company’s stock after selling 285 shares during the quarter. CIBC Asset Management Inc’s holdings in IDEXX Laboratories were worth $11,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $512,190,000. Capital Research Global Investors acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $135,910,000. TD Asset Management Inc increased its stake in shares of IDEXX Laboratories by 178.8% during the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after acquiring an additional 166,751 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $78,001,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $55,425,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IDXX. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Morgan Stanley decreased their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Finally, Stifel Nicolaus decreased their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Down 2.6 %

NASDAQ IDXX opened at $469.01 on Wednesday. The stock has a market cap of $38.73 billion, a PE ratio of 45.40, a P/E/G ratio of 4.10 and a beta of 1.32. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $480.93 and a two-hundred day moving average price of $505.29. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

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 for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.67 earnings per share. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 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.