Citizens Financial Group Inc. RI Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Citizens Financial Group Inc. RI boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 853 shares of the company’s stock after purchasing an additional 178 shares during the period. Citizens Financial Group Inc. RI’s holdings in IDEXX Laboratories were worth $431,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. lifted its position in shares of IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after buying an additional 177,226 shares in the last quarter. International Assets Investment Management LLC raised its stake in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after acquiring an additional 527,460 shares during the period. Dimensional Fund Advisors LP raised its stake in IDEXX Laboratories by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after acquiring an additional 59,519 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in IDEXX Laboratories by 12.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after purchasing an additional 43,473 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after purchasing an additional 308,493 shares during the period. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on IDXX shares. Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Stifel Nicolaus lowered 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. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $417.24 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. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The business has a 50 day simple moving average of $460.86 and a two-hundred day simple moving average of $480.68. The stock has a market capitalization of $34.17 billion, a PE ratio of 40.24, a P/E/G ratio of 3.65 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results 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 net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the prior year, the firm earned $2.53 earnings per share. IDEXX Laboratories’s revenue was up 6.6% on a year-over-year basis. On average, research analysts predict that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

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.