Beacon Investment Advisory Services Inc. Sells 7,079 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Beacon Investment Advisory Services Inc. trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,604 shares of the company's stock after selling 7,079 shares during the quarter. IDEXX Laboratories accounts for 1.4% of Beacon Investment Advisory Services Inc.'s holdings, making the stock its 19th largest holding. Beacon Investment Advisory Services Inc. owned 0.10% of IDEXX Laboratories worth $32,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake 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 acquiring an additional 57 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company's stock valued at $34,000 after acquiring an additional 60 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in IDEXX Laboratories in the 2nd quarter worth about $36,000. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of recent research reports. Leerink Partnrs raised IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Piper Sandler reissued a "neutral" rating and set a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 price target for the company. Stifel Nicolaus reduced their price objective 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, StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Thursday, November 28th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $523.86.

IDEXX Laboratories Trading Up 0.4 %

Shares of IDEXX Laboratories stock traded up $1.75 on Thursday, hitting $432.34. 397,839 shares of the company's stock traded hands, compared to its average volume of 544,302. The company has a market capitalization of $35.40 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 3.60 and a beta of 1.36. The company has a fifty day moving average of $423.28 and a two-hundred day moving average of $456.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the firm posted $2.53 EPS. The company's quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.11% of the company's stock.

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.