IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 49.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 451 shares of the company’s stock after selling 435 shares during the period. Diversified Trust Co’s holdings in IDEXX Laboratories were worth $228,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Nordea Investment Management AB lifted its stake in IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after purchasing an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in IDEXX Laboratories during the 2nd quarter worth about $20,418,000. First Hawaiian Bank purchased a new position in IDEXX Laboratories during the 1st quarter valued at about $982,000. Meyer Handelman Co. acquired a new position in IDEXX Laboratories in the 1st quarter valued at about $2,155,000. Finally, Oppenheimer Asset Management Inc. increased its stake in IDEXX Laboratories by 13.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after purchasing an additional 1,453 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Up 0.6 %

Shares of NASDAQ IDXX opened at $476.27 on Friday. The business has a 50-day moving average of $487.85 and a two-hundred day moving average of $494.56. The company has a market capitalization of $39.33 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.67 EPS. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday. Finally, Piper Sandler cut their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $574.13.

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.