Global Retirement Partners LLC Sells 259 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Global Retirement Partners LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 832 shares of the company’s stock after selling 259 shares during the period. Global Retirement Partners LLC’s holdings in IDEXX Laboratories were worth $420,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in IDXX. Clearbridge Investments LLC lifted its position in shares of IDEXX Laboratories by 696.0% during the second 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 in the last quarter. Vontobel Holding Ltd. raised its position in IDEXX Laboratories by 3,325.0% in the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock worth $111,229,000 after acquiring an additional 213,731 shares during the period. American Century Companies Inc. raised 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 worth $274,179,000 after acquiring an additional 177,226 shares during the period. 1832 Asset Management L.P. raised its position in IDEXX Laboratories by 4,193.1% in the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after acquiring an additional 125,498 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in IDEXX Laboratories in the first quarter worth about $55,425,000. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the topic of several research reports. Stifel Nicolaus lowered their price objective 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. Piper Sandler lowered their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. BTIG Research began coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered 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 report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $453.38 on Tuesday. The company has a 50 day moving average of $486.97 and a 200 day moving average of $490.87. The stock has a market cap of $37.44 billion, a P/E ratio of 43.89, a P/E/G ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 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 issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.67 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal 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.