Sumitomo Life Insurance Co. Purchases 72 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sumitomo Life Insurance Co. boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,797 shares of the company’s stock after acquiring an additional 72 shares during the period. Sumitomo Life Insurance Co.’s holdings in IDEXX Laboratories were worth $2,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co bought a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Crewe Advisors LLC bought a new stake in IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories during the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $36,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 1.1 %

IDXX traded down $5.22 during trading on Wednesday, hitting $468.70. 199,699 shares of the stock traded hands, compared to its average volume of 466,467. The firm has a market capitalization of $38.71 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The firm has a 50-day moving average of $488.55 and a 200 day moving average of $492.71.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 earnings per share. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler decreased their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $574.13.

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.