Camden National Bank Has $226,000 Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Camden National Bank lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 35.2% during the third quarter, HoldingsChannel reports. 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 institutional investors and hedge funds also recently made changes to their positions in IDXX. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. grew its position in IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC grew its position in IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.3 %

IDEXX Laboratories stock opened at $417.24 on Friday. 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 price-to-earnings 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. The firm has a 50 day simple moving average of $460.86 and a 200 day simple moving average of $480.68.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IDXX shares. JPMorgan Chase & Co. reduced their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Barclays reduced 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 report on Monday, November 4th. Stifel Nicolaus decreased their price target on shares of 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, Piper Sandler restated a “neutral” rating and set a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.