US Bancorp DE Sells 233 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

US Bancorp DE lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,164 shares of the company’s stock after selling 233 shares during the quarter. US Bancorp DE’s holdings in IDEXX Laboratories were worth $9,177,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. increased its position in shares of IDEXX Laboratories by 3.4% in the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after purchasing an additional 21 shares during the period. Eads & Heald Wealth Management increased its holdings in IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after buying an additional 22 shares during the period. LRI Investments LLC increased its holdings in IDEXX Laboratories by 21.7% in the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after buying an additional 23 shares during the period. Sovereign Financial Group Inc. raised its position in shares of IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after buying an additional 23 shares in the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of 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 acquiring an additional 23 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $417.28 on Friday. The business has a 50 day moving average of $478.76 and a 200-day moving average of $487.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 1 year low of $395.37 and a 1 year high of $583.39. The company has a market capitalization of $34.35 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.55 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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 during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.53 EPS. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

IDEXX Laboratories 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.