Massachusetts Financial Services Co. MA Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Massachusetts Financial Services Co. MA raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406,086 shares of the company’s stock after purchasing an additional 15,521 shares during the period. Massachusetts Financial Services Co. MA owned 0.50% of IDEXX Laboratories worth $205,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Integrated Investment Consultants LLC increased its position in IDEXX Laboratories by 48.4% during the 3rd quarter. Integrated Investment Consultants LLC now owns 650 shares of the company’s stock valued at $328,000 after buying an additional 212 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of IDEXX Laboratories by 4.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 73,477 shares of the company’s stock valued at $37,122,000 after purchasing an additional 3,382 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in IDEXX Laboratories by 26.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 853 shares of the company’s stock worth $431,000 after purchasing an additional 178 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in IDEXX Laboratories in the 3rd quarter worth approximately $210,000. Finally, Ontario Teachers Pension Plan Board purchased a new stake in IDEXX Laboratories during the 3rd quarter worth approximately $749,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective 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. Barclays lowered their price target 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. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $417.24 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a PEG ratio of 3.63 and a beta of 1.36. The stock has a 50-day simple moving average of $460.86 and a two-hundred day simple moving average of $480.70.

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