IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 47.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 675 shares of the company’s stock after buying an additional 216 shares during the period. Citizens Financial Group Inc. RI’s holdings in IDEXX Laboratories were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after acquiring an additional 1,839 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $20,418,000. Brevan Howard Capital Management LP purchased a new stake in IDEXX Laboratories in the 4th quarter valued at about $3,183,000. First Hawaiian Bank acquired a new position in IDEXX Laboratories in the first quarter valued at about $982,000. Finally, Meyer Handelman Co. purchased a new position in IDEXX Laboratories during the first quarter worth about $2,155,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Piper Sandler decreased their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BTIG Research began coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 target price 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Trading Down 0.2 %

IDXX opened at $511.30 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The stock has a market capitalization of $42.23 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 4.17 and a beta of 1.33. The business has a fifty day moving average price of $482.98 and a 200 day moving average price of $499.90. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.67 earnings per share. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

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.