Citigroup Inc. Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Citigroup Inc. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 133,279 shares of the company’s stock after selling 7,998 shares during the quarter. Citigroup Inc.’s holdings in IDEXX Laboratories were worth $67,335,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its position in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in IDEXX Laboratories during the third quarter valued at $37,000. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped 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 dropped 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 decreased their price objective 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. Finally, Piper Sandler reiterated a “neutral” rating and issued 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Stock Down 0.3 %

Shares of NASDAQ IDXX opened at $417.24 on Friday. The company has a market cap of $34.17 billion, a P/E ratio of 40.24, a PEG ratio of 3.65 and a beta of 1.36. The firm has a 50-day simple moving average of $460.86 and a two-hundred day simple moving average of $480.68. 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.

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, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the previous year, the business earned $2.53 EPS. IDEXX Laboratories’s revenue was up 6.6% compared to the same quarter last year. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 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.