Benjamin Edwards Inc. Sells 22 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Benjamin Edwards Inc. decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247 shares of the company’s stock after selling 22 shares during the period. Benjamin Edwards Inc.’s holdings in IDEXX Laboratories were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories during the 1st quarter worth $26,000. Crewe Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, DSM Capital Partners LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IDXX. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Finally, Piper Sandler lowered their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Trading Down 2.0 %

Shares of IDXX opened at $506.74 on Friday. The stock’s fifty day simple moving average is $483.85 and its 200 day simple moving average is $499.16. The firm has a market capitalization of $41.85 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. IDEXX Laboratories’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.67 EPS. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current 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.