Marietta Investment Partners LLC Sells 30 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Marietta Investment Partners LLC lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 506 shares of the company’s stock after selling 30 shares during the period. Marietta Investment Partners LLC’s holdings in IDEXX Laboratories were worth $247,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

IDXX has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Piper Sandler dropped their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. BTIG Research initiated coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Finally, StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $506.74 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The stock’s fifty day moving average price is $483.85 and its two-hundred day moving average price is $498.74. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The firm has a market cap of $41.85 billion, a price-to-earnings ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The firm 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%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.67 earnings per share. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 10.45 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 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.