Eastern Bank Buys Shares of 179 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Eastern Bank purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the third quarter, according to its most recent filing with the SEC. The firm purchased 179 shares of the company’s stock, valued at approximately $90,000.

A number of other hedge funds have also modified their holdings of the company. Atomi Financial Group Inc. raised its position in shares of IDEXX Laboratories by 3.4% in the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after acquiring an additional 21 shares during the period. Eads & Heald Wealth Management increased its stake in IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after purchasing an additional 22 shares in the last quarter. LRI Investments LLC increased its stake in IDEXX Laboratories by 21.7% during the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after purchasing an additional 23 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares in the last quarter. Finally, Mather Group LLC. increased its stake in IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing an additional 23 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IDXX. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Piper Sandler lowered their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Finally, 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 research note on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Trading Down 0.2 %

NASDAQ IDXX opened at $451.41 on Friday. The company has a market cap of $37.16 billion, a PE ratio of 44.69, a PEG ratio of 4.03 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock has a 50 day moving average of $485.44 and a 200-day moving average of $489.97.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.67 EPS. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS 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.