Sumitomo Mitsui DS Asset Management Company Ltd Has $12.23 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,208 shares of the company’s stock after acquiring an additional 1,394 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in IDEXX Laboratories were worth $12,230,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $36,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IDXX shares. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Piper Sandler reduced their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. BTIG Research started coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $457.74 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $487.50 and its two-hundred day moving average is $491.76. The company has a market cap of $37.80 billion, a P/E ratio of 44.31, a P/E/G ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.67 earnings per share. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS 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.