ING Groep NV Sells 1,848 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ING Groep NV trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,754 shares of the company’s stock after selling 1,848 shares during the quarter. ING Groep NV’s holdings in IDEXX Laboratories were worth $8,464,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Metis Global Partners LLC boosted its holdings in shares of IDEXX Laboratories by 3.2% in the 3rd quarter. Metis Global Partners LLC now owns 5,515 shares of the company’s stock valued at $2,786,000 after buying an additional 171 shares in the last quarter. KBC Group NV grew its position in IDEXX Laboratories by 41.1% during the 3rd quarter. KBC Group NV now owns 100,948 shares of the company’s stock worth $51,001,000 after purchasing an additional 29,388 shares during the period. Huntington National Bank raised its position in IDEXX Laboratories by 1.1% during the third quarter. Huntington National Bank now owns 3,979 shares of the company’s stock valued at $2,010,000 after acquiring an additional 42 shares in the last quarter. ROI Financial Advisors LLC boosted its holdings in IDEXX Laboratories by 1.6% during the third quarter. ROI Financial Advisors LLC now owns 3,997 shares of the company’s stock worth $2,019,000 after buying an additional 64 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd boosted its stake in shares of IDEXX Laboratories by 18.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 1,074 shares of the company’s stock worth $543,000 after acquiring an additional 167 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

IDEXX Laboratories Price Performance

Shares of IDXX opened at $420.91 on Friday. 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 stock has a market cap of $34.47 billion, a PE ratio of 40.59, a P/E/G ratio of 3.75 and a beta of 1.36. The firm has a 50-day simple moving average of $469.35 and a two-hundred day simple moving average of $483.39. IDEXX Laboratories, Inc. has a 1-year low of $404.74 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter last year, the company posted $2.53 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS 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.