CIBC Asset Management Inc Acquires 1,338 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

CIBC Asset Management Inc lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,578 shares of the company’s stock after buying an additional 1,338 shares during the period. CIBC Asset Management Inc’s holdings in IDEXX Laboratories were worth $12,923,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IDXX. Chicago Partners Investment Group LLC lifted its holdings in IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after buying an additional 96 shares during the period. Manning & Napier Advisors LLC bought a new stake in IDEXX Laboratories during the second quarter worth $20,418,000. Oppenheimer Asset Management Inc. raised its holdings in shares of IDEXX Laboratories by 13.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after purchasing an additional 1,453 shares during the last quarter. Vanguard Group Inc. increased its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the last quarter. Finally, National Pension Service lifted its holdings in IDEXX Laboratories by 7.3% during the third quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after acquiring an additional 12,647 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

IDEXX Laboratories Stock Down 0.6 %

Shares of NASDAQ IDXX opened at $420.91 on Friday. The firm has a 50-day simple moving average of $468.32 and a two-hundred day simple moving average of $482.73. The company has a market cap of $34.47 billion, a P/E ratio of 40.59, a PEG ratio of 3.75 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 1 year low of $404.74 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping 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 company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the firm posted $2.53 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.6% compared to the same quarter last year. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

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.