Huntington National Bank Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Huntington National Bank lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,979 shares of the company’s stock after buying an additional 42 shares during the quarter. Huntington National Bank’s holdings in IDEXX Laboratories were worth $2,010,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after purchasing an additional 98,387 shares during the last quarter. American Century Companies Inc. boosted its position in shares of IDEXX Laboratories by 46.0% in the 2nd 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 period. International Assets Investment Management LLC boosted its position in shares of 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 valued at $2,669,890,000 after purchasing an additional 527,460 shares during the period. Dimensional Fund Advisors LP increased its position in 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 buying an additional 59,519 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position 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 worth $190,283,000 after buying an additional 43,473 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $420.91 on Friday. 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 stock’s 50 day moving average is $469.35 and its two-hundred day moving average is $483.39. IDEXX Laboratories, Inc. has a twelve month low of $404.74 and a twelve month high of $583.39. The firm has a market capitalization of $34.47 billion, a PE ratio of 40.59, a P/E/G ratio of 3.75 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million for 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 earnings per share. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Barclays lowered their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced 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. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

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.