IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,258 shares of the company’s stock after selling 39 shares during the period. Wedbush Securities Inc.’s holdings in IDEXX Laboratories were worth $1,100,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its stake in shares of IDEXX Laboratories by 11.9% in the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after buying an additional 20 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in IDEXX Laboratories by 3.4% in the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after acquiring an additional 21 shares during the last quarter. Ballentine Partners LLC lifted its holdings in IDEXX Laboratories by 1.9% in the 1st quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock valued at $641,000 after acquiring an additional 22 shares during the last quarter. Eads & Heald Wealth Management boosted its position in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after purchasing an additional 22 shares in the last quarter. Finally, LRI Investments LLC grew its stake in shares of IDEXX Laboratories by 21.7% in the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after purchasing an additional 23 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Up 3.2 %

Shares of NASDAQ IDXX opened at $495.95 on Wednesday. The business has a 50-day moving average price of $480.24 and a two-hundred day moving average price of $502.33. 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 firm has a market capitalization of $40.82 billion, a PE ratio of 48.01, a PEG ratio of 4.02 and a beta of 1.33. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (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 company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $2.67 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IDXX has been the subject of several recent research reports. Piper Sandler cut their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley decreased their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $582.25.

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.