Seneca House Advisors Sells 123 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Seneca House Advisors trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 964 shares of the company’s stock after selling 123 shares during the period. Seneca House Advisors’ holdings in IDEXX Laboratories were worth $487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after acquiring an additional 98,387 shares during the period. American Century Companies Inc. grew its position in IDEXX Laboratories by 46.0% in the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in IDEXX Laboratories by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after purchasing an additional 59,519 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of IDEXX Laboratories by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after buying an additional 43,473 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in IDEXX Laboratories by 696.0% in the 2nd quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock valued at $171,891,000 after purchasing an additional 308,493 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on IDXX shares. BTIG Research began coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus cut their price objective 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. Finally, Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note 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, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Stock Performance

IDXX stock traded down $5.85 on Friday, hitting $477.67. The company had a trading volume of 468,682 shares, compared to its average volume of 468,802. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 4.32 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock’s 50-day simple moving average is $487.95 and its 200 day simple moving average is $496.16. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $2.67 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share 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.