IDEXX Laboratories, Inc. (NASDAQ:IDXX) Position Lessened by Capital Investment Services of America Inc.

Capital Investment Services of America Inc. reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 38,754 shares of the company's stock after selling 2,833 shares during the quarter. IDEXX Laboratories makes up 1.9% of Capital Investment Services of America Inc.'s portfolio, making the stock its 27th biggest position. Capital Investment Services of America Inc.'s holdings in IDEXX Laboratories were worth $19,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of IDXX. Janney Montgomery Scott LLC boosted its holdings in shares of IDEXX Laboratories by 3.2% during the first quarter. Janney Montgomery Scott LLC now owns 34,419 shares of the company's stock valued at $18,584,000 after acquiring an additional 1,078 shares during the period. Nordea Investment Management AB grew its position in IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company's stock worth $7,447,000 after purchasing an additional 1,839 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of IDEXX Laboratories by 9.0% in the first quarter. Daiwa Securities Group Inc. now owns 12,711 shares of the company's stock valued at $6,863,000 after purchasing an additional 1,045 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of IDEXX Laboratories by 906.8% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 735 shares of the company's stock valued at $397,000 after buying an additional 662 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of IDEXX Laboratories during the first quarter worth approximately $1,472,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

IDXX stock traded down $2.76 on Monday, hitting $414.52. 919,710 shares of the company's stock traded hands, compared to its average volume of 492,788. The stock has a market cap of $34.12 billion, a price-to-earnings ratio of 39.97, a P/E/G ratio of 3.55 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $404.74 and a 1-year high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average of $478.76 and a 200-day moving average of $487.19.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results 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 analysts' expectations of $980.32 million. During the same period last year, the company posted $2.53 earnings per share. The business's revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Piper Sandler restated a "neutral" rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday. StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, July 10th. BTIG Research started coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a "buy" rating and a $580.00 price objective for the company. Barclays lowered 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 note on Monday. Finally, JPMorgan Chase & Co. reduced their price target 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus 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.