Camden National Bank Sells 243 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Camden National Bank lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 35.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 447 shares of the company’s stock after selling 243 shares during the quarter. Camden National Bank’s holdings in IDEXX Laboratories were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after buying an additional 527,460 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of IDEXX Laboratories by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after purchasing an additional 59,519 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of IDEXX Laboratories by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company’s stock worth $205,163,000 after purchasing an additional 15,521 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after purchasing an additional 308,493 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $417.24 on Friday. The firm’s 50-day moving average price is $460.86 and its 200-day moving average price is $480.68. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The firm has a market capitalization of $34.17 billion, a P/E ratio of 40.24, a P/E/G ratio of 3.65 and a beta of 1.36. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the prior year, the business earned $2.53 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on IDXX. Barclays reduced their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories 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.