Financial Counselors Inc. Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Financial Counselors Inc. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,993 shares of the company’s stock after selling 71 shares during the period. Financial Counselors Inc.’s holdings in IDEXX Laboratories were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Eads & Heald Wealth Management lifted its stake in IDEXX Laboratories by 0.8% in the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after acquiring an additional 22 shares during the last quarter. LRI Investments LLC raised its holdings in shares of IDEXX Laboratories by 21.7% in the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after purchasing an additional 23 shares in the last quarter. Sovereign Financial Group Inc. lifted its position in shares of IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares during the last quarter. Mather Group LLC. grew its stake in shares of IDEXX Laboratories by 3.9% during the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing an additional 23 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its holdings in IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction that occurred 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 directly owns 905 shares in the company, valued at approximately $380,498.20. This trade represents 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. Corporate insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IDXX. Stifel Nicolaus decreased their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Barclays lowered their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Piper Sandler restated a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut 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 note on Friday, October 11th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $421.75 on Friday. The stock has a fifty day moving average price of $451.91 and a 200 day moving average price of $478.11. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. 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 company has a market cap of $34.53 billion, a PE ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 EPS. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current 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.