Principal Financial Group Inc. Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Principal Financial Group Inc. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 730,470 shares of the company’s stock after selling 23,646 shares during the quarter. Principal Financial Group Inc. owned 0.89% of IDEXX Laboratories worth $369,049,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IDXX. Csenge Advisory Group lifted its holdings in shares of IDEXX Laboratories by 21.4% in the 1st quarter. Csenge Advisory Group now owns 943 shares of the company’s stock worth $509,000 after buying an additional 166 shares during the period. Empirical Finance LLC lifted its holdings in shares of IDEXX Laboratories by 3.4% in the 1st quarter. Empirical Finance LLC now owns 3,021 shares of the company’s stock worth $1,631,000 after buying an additional 100 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of IDEXX Laboratories by 42.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 20,835 shares of the company’s stock worth $11,249,000 after buying an additional 6,249 shares during the period. Empowered Funds LLC lifted its holdings in shares of IDEXX Laboratories by 28.0% in the 1st quarter. Empowered Funds LLC now owns 1,039 shares of the company’s stock worth $561,000 after buying an additional 227 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of IDEXX Laboratories by 11.4% in the 1st quarter. SG Americas Securities LLC now owns 21,420 shares of the company’s stock worth $11,565,000 after buying an additional 2,196 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 1.8 %

IDEXX Laboratories stock opened at $423.42 on Thursday. The stock has a 50-day moving average of $474.87 and a two-hundred day moving average of $485.88. 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 one year low of $404.74 and a one year high of $583.39. The stock has a market cap of $34.67 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 3.61 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period last year, the business posted $2.53 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IDXX shares. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. lowered their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday. Three equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

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.