Fifth Third Wealth Advisors LLC Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fifth Third Wealth Advisors LLC grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 835 shares of the company’s stock after purchasing an additional 83 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $422,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IDXX. American Century Companies Inc. increased its holdings in IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after acquiring an additional 177,226 shares in the last quarter. International Assets Investment Management LLC increased its holdings in IDEXX Laboratories by 52,746.0% in 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in IDEXX Laboratories by 13.1% in 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 in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in IDEXX Laboratories by 12.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock worth $190,283,000 after acquiring an additional 43,473 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after acquiring an additional 308,493 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $418.61 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm has a market cap of $34.28 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 3.67 and a beta of 1.36. The company’s 50 day simple moving average is $464.08 and its 200-day simple moving average is $481.54. IDEXX Laboratories, Inc. has a 12-month low of $404.74 and a 12-month high of $583.39.

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 net margin of 22.53% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $2.53 earnings per share. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IDXX shares. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. 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 report on Friday, October 11th. Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.