IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 86,683 shares of the company's stock after selling 2,176 shares during the quarter. IDEXX Laboratories comprises approximately 1.8% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 12th largest holding. Beacon Investment Advisory Services Inc. owned about 0.11% of IDEXX Laboratories worth $43,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC increased its stake in IDEXX Laboratories by 52,746.0% in the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock valued at $2,669,890,000 after buying an additional 527,460 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company's stock valued at $171,891,000 after acquiring an additional 308,493 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of IDEXX Laboratories by 3,325.0% during the third quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company's stock worth $111,229,000 after acquiring an additional 213,731 shares during the period. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company's stock worth $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in IDEXX Laboratories by 4,193.1% in the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company's stock valued at $62,601,000 after purchasing an additional 125,498 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on IDXX. Piper Sandler reiterated a "neutral" rating and set a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday. They issued an "outperform" rating and a $500.00 target price for the company. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut 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. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $546.56.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.11% of the company's stock.

IDEXX Laboratories Price Performance

IDXX stock traded up $9.02 on Monday, reaching $430.77. The company had a trading volume of 710,967 shares, compared to its average volume of 506,593. The company's fifty day moving average is $451.91 and its 200 day moving average is $477.31. The company has a market cap of $35.28 billion, a P/E ratio of 41.54, a PEG ratio of 3.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter last year, the company earned $2.53 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

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.