Global Retirement Partners LLC Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Global Retirement Partners LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.7% in the third quarter, according to the company in its most recent 13F filing 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 reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDXX. Riverview Trust Co purchased a new position in IDEXX Laboratories in the 1st quarter worth approximately $26,000. Crewe Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at $27,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 1.0 %

Shares of NASDAQ IDXX opened at $453.38 on Tuesday. 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, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The firm has a market capitalization of $37.44 billion, a PE ratio of 43.89, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. The firm has a fifty day simple moving average of $486.97 and a two-hundred day simple moving average of $490.87.

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). 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 the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $2.67 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lowered their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Finally, Piper Sandler lowered their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $574.13.

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.