Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,534 shares of the company’s stock after buying an additional 3,233 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in IDEXX Laboratories were worth $99,798,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IDXX. Crewe Advisors LLC purchased a new position in IDEXX Laboratories in the first quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories during the second quarter worth about $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories during the second quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $429.82 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The company has a market cap of $35.20 billion, a P/E ratio of 41.45, a PEG ratio of 3.72 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 company has a 50-day moving average price of $471.09 and a 200 day moving average price of $484.18.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 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 net margin of 22.53% and a return on equity of 55.42%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.53 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

IDXX has been the topic of several research reports. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $552.38.

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.