Beacon Investment Advisory Services Inc. Has $32.91 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Beacon Investment Advisory Services Inc. reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,604 shares of the company’s stock after selling 7,079 shares during the quarter. IDEXX Laboratories accounts for approximately 1.4% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 19th biggest position. Beacon Investment Advisory Services Inc. owned 0.10% of IDEXX Laboratories worth $32,912,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $16,562,000. SG Americas Securities LLC lifted its position in shares of IDEXX Laboratories by 4.3% in the 4th quarter. SG Americas Securities LLC now owns 40,082 shares of the company’s stock worth $16,572,000 after acquiring an additional 1,659 shares during the period. Dakota Wealth Management boosted its stake in IDEXX Laboratories by 25.2% during the fourth quarter. Dakota Wealth Management now owns 1,706 shares of the company’s stock worth $705,000 after buying an additional 343 shares in the last quarter. Bourne Lent Asset Management Inc. boosted its position in shares of IDEXX Laboratories by 1.8% during the 4th quarter. Bourne Lent Asset Management Inc. now owns 39,517 shares of the company’s stock valued at $16,338,000 after acquiring an additional 695 shares in the last quarter. Finally, Perfromance Wealth Partners LLC increased its stake in IDEXX Laboratories by 2.8% in the fourth quarter. Perfromance Wealth Partners LLC now owns 3,626 shares of the company’s stock valued at $1,499,000 after acquiring an additional 100 shares during the period. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX opened at $430.59 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The stock has a market capitalization of $35.26 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 3.60 and a beta of 1.36. The company’s 50 day simple moving average is $423.28 and its 200-day simple moving average is $456.85. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate 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 firm earned $2.53 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IDXX shares. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Barclays lowered their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Leerink Partners began coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $523.86.

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.