IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Reduced by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 80,934 shares of the company’s stock after selling 10,295 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of IDEXX Laboratories worth $40,889,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IDXX. Crewe Advisors LLC bought a new position in IDEXX Laboratories in the 1st quarter worth about $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its stake in IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 2.5 %

Shares of IDEXX Laboratories stock opened at $417.28 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $395.37 and a 12-month high of $583.39. The firm has a market capitalization of $34.35 billion, a PE ratio of 40.24, a price-to-earnings-growth ratio of 3.55 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average is $478.76 and its 200-day moving average is $487.13.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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 return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the company earned $2.53 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Piper Sandler decreased their price target 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. Finally, JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $574.13.

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.