Zions Bancorporation N.A. Sells 433 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Zions Bancorporation N.A. trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 87.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63 shares of the company’s stock after selling 433 shares during the period. Zions Bancorporation N.A.’s holdings in IDEXX Laboratories were worth $32,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in IDEXX Laboratories in the first quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories in the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC bought a new position in IDEXX Laboratories during the second quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. increased its position 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 worth $29,000 after buying an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of 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 buying an additional 60 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.6 %

Shares of IDXX stock opened at $420.91 on Friday. The company has a market capitalization of $34.47 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52-week low of $404.74 and a 52-week high of $583.39. The business’s fifty day moving average is $468.32 and its 200 day moving average is $482.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $2.53 EPS. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.