Sanibel Captiva Trust Company Inc. Grows Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sanibel Captiva Trust Company Inc. boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,088 shares of the company’s stock after acquiring an additional 33 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in IDEXX Laboratories were worth $530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in IDEXX Laboratories by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares during the period. Franklin Resources Inc. lifted its position in shares of IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock worth $780,303,000 after acquiring an additional 28,475 shares during the period. Capital World Investors lifted its position in shares of IDEXX Laboratories by 1.1% during the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after buying an additional 11,351 shares during the period. Norges Bank bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $512,190,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of IDEXX Laboratories by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,799 shares of the company’s stock worth $264,647,000 after buying an additional 14,264 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the subject of several analyst reports. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Barclays cut their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler cut their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Stock Down 0.1 %

IDXX traded down $0.51 on Wednesday, hitting $493.50. 62,344 shares of the company were exchanged, compared to its average volume of 488,154. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a market cap of $40.76 billion, a PE ratio of 47.82, a PEG ratio of 3.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The stock’s fifty day moving average is $484.30 and its 200-day moving average is $511.07.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.67 EPS. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11 EPS for the current fiscal 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.