The Manufacturers Life Insurance Company Cuts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

The Manufacturers Life Insurance Company lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,475 shares of the company’s stock after selling 4,716 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of IDEXX Laboratories worth $45,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in IDEXX Laboratories by 46.0% in the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of IDEXX Laboratories by 52,746.0% during the third 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 last quarter. Dimensional Fund Advisors LP grew its stake in shares of IDEXX Laboratories by 13.1% during the second 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 last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of IDEXX Laboratories by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company’s stock worth $205,163,000 after acquiring an additional 15,521 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of IDEXX Laboratories by 696.0% during the second 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 during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of a number of research analyst reports. Barclays dropped their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Piper Sandler restated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $552.38.

IDEXX Laboratories Trading Up 1.1 %

Shares of NASDAQ:IDXX opened at $421.76 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a market capitalization of $34.54 billion, a PE ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. The business has a 50 day moving average of $453.61 and a two-hundred day moving average of $478.67. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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 return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same period in the previous year, the company posted $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

IDEXX Laboratories 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.