IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 455 shares of the company’s stock after selling 25 shares during the period. Cornerstone Wealth Management LLC’s holdings in IDEXX Laboratories were worth $230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in IDEXX Laboratories by 1,503.9% in the 4th quarter. Wellington Management Group LLP now owns 55,913 shares of the company’s stock valued at $31,035,000 after buying an additional 52,427 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of IDEXX Laboratories by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 6,855 shares of the company’s stock worth $3,701,000 after acquiring an additional 39 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of IDEXX Laboratories by 1.9% in the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock valued at $641,000 after acquiring an additional 22 shares in the last quarter. Steph & Co. boosted its stake in shares of IDEXX Laboratories by 12.9% during the first quarter. Steph & Co. now owns 333 shares of the company’s stock valued at $180,000 after acquiring an additional 38 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its position in IDEXX Laboratories by 3.9% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,195 shares of the company’s stock worth $1,725,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 0.5 %

Shares of IDXX opened at $457.74 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The firm has a market capitalization of $37.80 billion, a P/E ratio of 44.31, a price-to-earnings-growth ratio of 4.14 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 fifty day simple moving average is $487.50 and its 200 day simple moving average is $491.55.

IDEXX Laboratories (NASDAQ:IDXX) last released 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). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the business earned $2.67 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IDXX. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Piper Sandler lowered their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

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.