IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by KBC Group NV

KBC Group NV lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 41.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 100,948 shares of the company’s stock after acquiring an additional 29,388 shares during the period. KBC Group NV’s holdings in IDEXX Laboratories were worth $51,001,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new position in IDEXX Laboratories during the first quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in 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 acquiring an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IDXX shares. Piper Sandler restated a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price 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. Barclays reduced their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Finally, Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $423.65 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $404.74 and a 12-month 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 company has a market capitalization of $34.69 billion, a price-to-earnings ratio of 40.85, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. The firm’s fifty day moving average price is $470.26 and its 200 day moving average price is $483.80.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business 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 for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.53 earnings per share. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal 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.