IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 612,672 shares of the company’s stock after selling 155,783 shares during the period. JPMorgan Chase & Co. owned 0.75% of IDEXX Laboratories worth $309,534,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in shares of IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after acquiring an additional 96 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in IDEXX Laboratories by 13.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after purchasing an additional 1,453 shares in the last quarter. National Pension Service raised its stake in IDEXX Laboratories by 7.3% during the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after purchasing an additional 12,647 shares during the period. EFG Asset Management Americas Corp. lifted its holdings in shares of IDEXX Laboratories by 45.3% in the second quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock valued at $6,201,000 after purchasing an additional 3,966 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of IDEXX Laboratories by 17,238.5% in the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock worth $1,139,000 after buying an additional 2,241 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on IDXX shares. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. 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 report on Friday, October 11th. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Piper Sandler reiterated a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Finally, Barclays decreased their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $539.63.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 0.5 %

IDEXX Laboratories stock opened at $414.93 on Monday. 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, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The firm’s fifty day simple moving average is $428.68 and its 200-day simple moving average is $465.48. The company has a market capitalization of $33.98 billion, a P/E ratio of 40.01, a P/E/G ratio of 3.99 and a beta of 1.37.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

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.