Franklin Resources Inc. Has $675.26 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Franklin Resources Inc. lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,412,700 shares of the company’s stock after purchasing an additional 34,305 shares during the quarter. Franklin Resources Inc. owned 1.73% of IDEXX Laboratories worth $675,259,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of IDEXX Laboratories by 91.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,975 shares of the company’s stock valued at $4,860,000 after buying an additional 4,772 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new position in IDEXX Laboratories during the second quarter valued at approximately $238,000. Blue Trust Inc. lifted its stake in IDEXX Laboratories by 136.2% during the second quarter. Blue Trust Inc. now owns 744 shares of the company’s stock worth $402,000 after purchasing an additional 429 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of IDEXX Laboratories by 6.8% in the 2nd quarter. Raymond James & Associates now owns 79,406 shares of the company’s stock valued at $38,687,000 after purchasing an additional 5,072 shares in the last quarter. Finally, Marshall Financial Group LLC increased its stake in shares of IDEXX Laboratories by 7.9% in the 2nd quarter. Marshall Financial Group LLC now owns 1,854 shares of the company’s stock valued at $903,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $432.10 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The firm has a market cap of $35.38 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37. The firm’s fifty day moving average is $439.55 and its 200-day moving average is $471.81.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.53 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Analyst Ratings Changes

IDXX has been the subject of several recent analyst reports. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays dropped their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $539.63.

IDEXX Laboratories Company Profile

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.