Comgest Global Investors S.A.S. Buys 12,353 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Comgest Global Investors S.A.S. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,308 shares of the company’s stock after buying an additional 12,353 shares during the period. Comgest Global Investors S.A.S. owned about 0.06% of IDEXX Laboratories worth $23,396,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC grew its holdings in shares of IDEXX Laboratories by 28.0% during the 1st quarter. Empowered Funds LLC now owns 1,039 shares of the company’s stock valued at $561,000 after purchasing an additional 227 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of IDEXX Laboratories by 24.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 787 shares of the company’s stock valued at $425,000 after purchasing an additional 155 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of IDEXX Laboratories by 3.1% during the 1st quarter. Orion Portfolio Solutions LLC now owns 3,001 shares of the company’s stock valued at $1,620,000 after purchasing an additional 91 shares during the last quarter. Intech Investment Management LLC grew its holdings in IDEXX Laboratories by 154.2% in the 1st quarter. Intech Investment Management LLC now owns 4,090 shares of the company’s stock worth $2,208,000 after acquiring an additional 2,481 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after acquiring an additional 98,387 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 0.6 %

Shares of IDXX traded down $2.74 during trading hours on Friday, reaching $420.91. 690,183 shares of the company traded hands, compared to its average volume of 501,792. The company’s fifty day moving average price is $468.32 and its two-hundred day moving average price is $482.80. The company has a market capitalization of $34.47 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.36. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. 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 for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the previous year, the firm posted $2.53 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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