IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,683 shares of the company’s stock after selling 2,176 shares during the period. IDEXX Laboratories accounts for 1.8% of Beacon Investment Advisory Services Inc.’s holdings, making the stock its 12th biggest position. Beacon Investment Advisory Services Inc.’s holdings in IDEXX Laboratories were worth $43,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after buying an additional 527,460 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after acquiring an additional 308,493 shares during the last quarter. Vontobel Holding Ltd. increased its stake in shares of IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after acquiring an additional 213,731 shares during the period. American Century Companies Inc. raised its holdings in shares of IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in IDEXX Laboratories by 4,193.1% during the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock valued at $62,601,000 after purchasing an additional 125,498 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s 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 $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IDXX. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Barclays dropped their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday. They issued an “outperform” rating and a $500.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $546.56.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $421.75 on Monday. The stock has a market capitalization of $34.54 billion, a P/E ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36. The company’s fifty day moving average price is $451.91 and its 200 day moving average price is $477.31. 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 1 year low of $398.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 earnings per share. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

IDEXX Laboratories Company 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.