Dai ichi Life Insurance Company Ltd Has $3.06 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Dai ichi Life Insurance Company Ltd lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.9% during the third quarter, HoldingsChannel reports. The fund owned 6,057 shares of the company’s stock after selling 2,586 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in IDEXX Laboratories were worth $3,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IDXX. Mirabella Financial Services LLP grew its holdings in shares of IDEXX Laboratories by 74.9% during the third quarter. Mirabella Financial Services LLP now owns 23,356 shares of the company’s stock worth $11,800,000 after purchasing an additional 9,999 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in IDEXX Laboratories by 4.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock worth $375,000 after buying an additional 31 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in IDEXX Laboratories by 43.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,791 shares of the company’s stock worth $1,915,000 after acquiring an additional 1,153 shares during the last quarter. Davis R M Inc. increased its position in IDEXX Laboratories by 0.8% in the 3rd quarter. Davis R M Inc. now owns 103,378 shares of the company’s stock valued at $52,229,000 after acquiring an additional 793 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of IDEXX Laboratories by 10.1% during the third quarter. Daiwa Securities Group Inc. now owns 16,462 shares of the company’s stock valued at $8,316,000 after acquiring an additional 1,510 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 2.6 %

Shares of NASDAQ:IDXX opened at $417.32 on Wednesday. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The business’s 50-day moving average is $457.31 and its 200-day moving average is $479.47. The company has a market capitalization of $34.17 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 3.74 and a beta of 1.36.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Barclays cut their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $552.38.

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.