Cetera Advisors LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,842 shares of the company’s stock after selling 178 shares during the quarter. Cetera Advisors LLC’s holdings in IDEXX Laboratories were worth $3,938,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Avalon Trust Co purchased a new stake in IDEXX Laboratories in the 1st quarter worth approximately $25,000. Arlington Partners LLC grew its position in shares of IDEXX Laboratories by 233.3% in the second quarter. Arlington Partners LLC now owns 50 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Altshuler Shaham Ltd acquired a new position in IDEXX Laboratories in the fourth quarter valued at $26,000. Resurgent Financial Advisors LLC purchased a new position in IDEXX Laboratories during the fourth quarter worth about $31,000. Finally, Raleigh Capital Management Inc. acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $33,000. 86.85% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently commented on IDXX shares. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $500.00 to $460.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $520.00 to $525.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Barclays boosted their price objective on shares of IDEXX Laboratories from $590.00 to $592.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. JPMorgan Chase & Co. lowered their price objective on shares of IDEXX Laboratories from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of IDEXX Laboratories from $578.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $548.14.
Insider Activity at IDEXX Laboratories
In other news, EVP James F. Polewaczyk sold 22,909 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $510.56, for a total transaction of $11,696,419.04. Following the completion of the transaction, the executive vice president now owns 10,038 shares in the company, valued at approximately $5,125,001.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $512.01, for a total transaction of $6,873,222.24. Following the transaction, the chief executive officer now owns 72,925 shares of the company’s stock, valued at approximately $37,338,329.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James F. Polewaczyk sold 22,909 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total value of $11,696,419.04. Following the completion of the transaction, the executive vice president now owns 10,038 shares in the company, valued at $5,125,001.28. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.
IDEXX Laboratories Price Performance
NASDAQ IDXX opened at $463.69 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $434.64 and a two-hundred day moving average price of $474.98. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 47.32, a price-to-earnings-growth ratio of 2.60 and a beta of 1.21. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $564.73.
IDEXX Laboratories (NASDAQ:IDXX – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.16. The company had revenue of $915.53 million during the quarter, compared to analysts’ expectations of $926.88 million. IDEXX Laboratories had a return on equity of 85.68% and a net margin of 22.93%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 earnings per share. Analysts forecast that IDEXX Laboratories, Inc. will post 9.85 EPS for the current year.
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 worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.
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