Bank of Montreal Can Sells 13,041 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank of Montreal Can decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,765 shares of the company's stock after selling 13,041 shares during the period. Bank of Montreal Can owned about 0.14% of IDEXX Laboratories worth $59,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories during the second quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of IDEXX Laboratories by 5,700.0% in the 3rd 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 raised its holdings in shares of IDEXX Laboratories by 750.0% in the 3rd 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. Finally, Strategic Investment Solutions Inc. IL acquired 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 Up 1.1 %

NASDAQ:IDXX traded up $4.44 during trading hours on Thursday, hitting $421.76. 486,187 shares of the stock traded hands, compared to its average volume of 506,477. The firm has a 50 day moving average price of $455.52 and a 200 day moving average price of $479.07. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm has a market cap of $34.54 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm had revenue of $975.50 million during the quarter, compared to analysts' expectations of $980.32 million. During the same period in the prior year, the company posted $2.53 earnings per share. IDEXX Laboratories's revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays dropped their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Stifel Nicolaus reduced their target price 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. Finally, Piper Sandler reiterated a "neutral" rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average target price of $552.38.

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.