Graypoint LLC Lowers Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Graypoint LLC cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 528 shares of the company’s stock after selling 82 shares during the period. Graypoint LLC’s holdings in IDEXX Laboratories were worth $218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of IDEXX Laboratories in the second quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of IDEXX Laboratories in the third quarter valued at about $37,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on IDXX shares. Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Barclays lowered their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, Piper Sandler restated a “neutral” rating and issued a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $539.63.

IDEXX Laboratories Trading Down 3.3 %

Shares of IDXX stock opened at $418.05 on Monday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $423.76 and its 200-day moving average price is $459.98. The stock has a market capitalization of $34.23 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 3.94 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the previous year, the firm posted $2.53 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS 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.