Private Advisor Group LLC Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Private Advisor Group LLC lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,062 shares of the company’s stock after selling 225 shares during the quarter. Private Advisor Group LLC’s holdings in IDEXX Laboratories were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after purchasing an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $20,418,000. Oppenheimer Asset Management Inc. increased its holdings in shares of IDEXX Laboratories by 13.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after acquiring an additional 1,453 shares during the period. Vanguard Group Inc. increased its holdings in shares of IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after acquiring an additional 98,387 shares during the period. Finally, BNP Paribas acquired a new position in shares of IDEXX Laboratories in the 1st quarter valued at $1,031,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IDXX. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler cut their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. 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. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Finally, BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $574.13.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $417.28 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $395.37 and a 52 week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The firm’s 50-day simple moving average is $478.76 and its 200 day simple moving average is $487.14. The firm has a market capitalization of $34.35 billion, a PE ratio of 41.31, a P/E/G ratio of 3.94 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same period in the previous year, the firm earned $2.53 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS 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.