Bank of America Corp DE Has $168.53 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank of America Corp DE lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 407,637 shares of the company's stock after selling 203,533 shares during the period. Bank of America Corp DE owned approximately 0.50% of IDEXX Laboratories worth $168,533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock valued at $948,279,000 after buying an additional 37,734 shares during the last quarter. Invesco Ltd. grew its holdings in IDEXX Laboratories by 6.8% in the fourth quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock valued at $479,999,000 after purchasing an additional 74,324 shares during the period. Norges Bank purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $412,258,000. Northern Trust Corp grew its holdings in IDEXX Laboratories by 18.6% in the fourth quarter. Northern Trust Corp now owns 912,874 shares of the company's stock valued at $377,419,000 after purchasing an additional 143,369 shares during the period. Finally, American Century Companies Inc. grew its holdings in IDEXX Laboratories by 30.9% in the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock valued at $334,810,000 after purchasing an additional 191,385 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Trading Up 0.5%

Shares of IDEXX Laboratories stock traded up $2.73 during trading on Thursday, hitting $512.15. The stock had a trading volume of 156,641 shares, compared to its average volume of 648,400. The stock has a 50 day simple moving average of $427.95 and a 200 day simple moving average of $430.50. The company has a market capitalization of $41.19 billion, a PE ratio of 47.95, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company posted $2.71 earnings per share. On average, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on IDXX. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Morgan Stanley increased their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $524.75.

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.