Summit Trail Advisors LLC Sells 61 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Summit Trail Advisors LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 501 shares of the company’s stock after selling 61 shares during the period. Summit Trail Advisors LLC’s holdings in IDEXX Laboratories were worth $278,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in IDEXX Laboratories in the 3rd quarter worth about $25,000. Valley National Advisers Inc. boosted its stake in shares of IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares during the period. Geo Capital Gestora de Recursos Ltd bought a new stake in shares of IDEXX Laboratories in the third quarter valued at approximately $28,000. Covestor Ltd grew its position in IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in IDEXX Laboratories by 108.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after acquiring an additional 38 shares during the period. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent analyst reports. Piper Sandler downgraded IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a research report on Tuesday, January 30th. Barclays reduced their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $580.88.

IDEXX Laboratories Price Performance

IDXX stock opened at $487.07 on Thursday. The stock has a market cap of $40.23 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 3.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. The company has a 50 day simple moving average of $519.60 and a 200 day simple moving average of $514.34. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the previous year, the firm posted $2.05 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Research analysts anticipate that IDEXX Laboratories, Inc. will post 11.05 EPS for the current fiscal year.

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.