Wendell David Associates Inc. Trims Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wendell David Associates Inc. lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 18.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,089 shares of the company’s stock after selling 3,163 shares during the quarter. Wendell David Associates Inc.’s holdings in IDEXX Laboratories were worth $5,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in IDXX. Sovereign Financial Group Inc. boosted its holdings in shares of IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after buying an additional 23 shares in the last quarter. Mather Group LLC. boosted its stake in IDEXX Laboratories by 3.9% during the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after acquiring an additional 23 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after purchasing an additional 25 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after purchasing an additional 27 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $523.86.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $430.59 on Thursday. The firm has a fifty day simple moving average of $423.26 and a two-hundred day simple moving average of $457.04. The firm has a market cap of $35.26 billion, a PE ratio of 41.52, a P/E/G ratio of 3.60 and a beta of 1.36. 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 1-year low of $398.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share 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 company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the prior year, the company earned $2.53 earnings per share. IDEXX Laboratories’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the business’s 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 completion of the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.11% of the stock is currently owned by company insiders.

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.