Synovus Financial Corp lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,537 shares of the company’s stock after purchasing an additional 264 shares during the quarter. Synovus Financial Corp’s holdings in IDEXX Laboratories were worth $629,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH increased its stake in IDEXX Laboratories by 11.9% in the 1st quarter. Allianz Asset Management GmbH now owns 81,713 shares of the company’s stock worth $15,639,000 after acquiring an additional 8,664 shares during the last quarter. IFM Investors Pty Ltd increased its stake in IDEXX Laboratories by 50.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,871 shares of the company’s stock worth $844,000 after acquiring an additional 1,291 shares during the last quarter. State of Alaska Department of Revenue increased its stake in IDEXX Laboratories by 21.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,335 shares of the company’s stock worth $4,213,000 after acquiring an additional 3,460 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in IDEXX Laboratories in the 2nd quarter worth about $888,000. Finally, Daiwa SB Investments Ltd. increased its stake in IDEXX Laboratories by 21.9% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 4,390 shares of the company’s stock worth $957,000 after acquiring an additional 790 shares during the last quarter. Institutional investors own 91.27% of the company’s stock.
IDXX has been the topic of a number of research analyst reports. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. Canaccord Genuity reduced their price objective on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America reduced their price objective on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Piper Jaffray Companies increased their price objective on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. Finally, Credit Suisse Group increased their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $252.33.
Shares of IDEXX Laboratories stock opened at $209.67 on Friday. The stock has a market cap of $17.44 billion, a PE ratio of 63.92, a PEG ratio of 2.57 and a beta of 0.82. IDEXX Laboratories, Inc. has a 12 month low of $146.09 and a 12 month high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, November 1st. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.97 by $0.08. The firm had revenue of $545.00 million for the quarter, compared to analyst estimates of $545.66 million. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 EPS. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current fiscal year.
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About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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