Fiduciary Trust Co Cuts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fiduciary Trust Co cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,051 shares of the company's stock after selling 834 shares during the period. Fiduciary Trust Co's holdings in IDEXX Laboratories were worth $3,329,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IDXX. Geode Capital Management LLC raised its position in shares of IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after buying an additional 37,734 shares in the last quarter. Bamco Inc. NY grew its position in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock valued at $829,163,000 after purchasing an additional 82,264 shares during the last quarter. Invesco Ltd. raised its stake in shares of 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 in the last quarter. Norges Bank bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth about $412,258,000. Finally, Northern Trust Corp raised its stake in shares of IDEXX Laboratories by 18.6% in the fourth quarter. Northern Trust Corp now owns 912,874 shares of the company's stock worth $377,419,000 after acquiring an additional 143,369 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded down $0.40 during trading on Tuesday, reaching $509.13. 558,434 shares of the stock traded hands, compared to its average volume of 650,673. The business has a fifty day simple moving average of $424.76 and a two-hundred day simple moving average of $429.40. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $548.88. The company has a market capitalization of $40.95 billion, a price-to-earnings ratio of 47.72, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on IDXX shares. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.