Everence Capital Management Inc. Sells 1,340 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Everence Capital Management Inc. cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 44.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,700 shares of the company's stock after selling 1,340 shares during the period. Everence Capital Management Inc.'s holdings in IDEXX Laboratories were worth $859,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in IDEXX Laboratories by 1,503.9% in the 4th quarter. Wellington Management Group LLP now owns 55,913 shares of the company's stock worth $31,035,000 after purchasing an additional 52,427 shares during the last quarter. Ballentine Partners LLC raised its position in IDEXX Laboratories by 1.9% during the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company's stock valued at $641,000 after acquiring an additional 22 shares in the last quarter. Steph & Co. raised its position in IDEXX Laboratories by 12.9% during the first quarter. Steph & Co. now owns 333 shares of the company's stock valued at $180,000 after acquiring an additional 38 shares in the last quarter. Riverview Trust Co acquired a new stake in IDEXX Laboratories in the first quarter valued at approximately $26,000. Finally, DGS Capital Management LLC grew its position in IDEXX Laboratories by 21.0% in the first quarter. DGS Capital Management LLC now owns 1,287 shares of the company's stock worth $695,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded down $4.36 on Monday, hitting $453.38. The stock had a trading volume of 993,627 shares, compared to its average volume of 475,013. The firm's 50 day moving average price is $487.50 and its 200-day moving average price is $491.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 44.03, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts' consensus estimates of $2.88 by ($0.44). The firm 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%. IDEXX Laboratories's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.67 earnings per share. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a "buy" rating and a $580.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an "overweight" rating for the company in a research report on Friday, October 11th. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Thursday, October 10th. StockNews.com lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, July 10th. Finally, Piper Sandler reduced their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a "neutral" rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus target price of $574.13.

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.