MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,887 shares of the company’s stock after selling 852 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in IDEXX Laboratories were worth $24,760,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. United Capital Financial Advisors LLC boosted its stake in IDEXX Laboratories by 0.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock valued at $1,011,000 after buying an additional 22 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after buying an additional 25 shares during the last quarter. Gabelli Funds LLC boosted its stake in IDEXX Laboratories by 5.3% during the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock valued at $207,000 after buying an additional 25 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after buying an additional 26 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $509.42 on Thursday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market capitalization of $40.97 billion, a P/E ratio of 47.74, a P/E/G ratio of 3.41 and a beta of 1.52. The stock has a 50 day moving average price of $427.95 and a 200 day moving average price of $430.50.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.03. The firm had revenue of $998.43 million during 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%. IDEXX Laboratories’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $2.71 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on IDXX. Barclays increased their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note 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 research note on Monday, May 5th. Piper Sandler increased their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently 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.