IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,806 shares of the company’s stock after selling 7,613 shares during the period. Bank of Montreal Can owned approximately 0.16% of IDEXX Laboratories worth $63,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IDXX. Riverview Trust Co purchased a new position in IDEXX Laboratories during the first quarter worth about $26,000. Crewe Advisors LLC acquired a new stake in IDEXX Laboratories in the 1st quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC acquired a new position in IDEXX Laboratories during the second quarter worth $28,000. Finally, nVerses Capital LLC purchased a new position in shares of IDEXX Laboratories during the second quarter worth $49,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of several research reports. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 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 price objective for the company. Piper Sandler reduced their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $497.76 on Thursday. The firm has a market capitalization of $41.11 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 4.32 and a beta of 1.33. The firm’s fifty day simple moving average is $484.48 and its 200-day simple moving average is $497.97. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve 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 posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.67 earnings per share. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

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.