Spire Wealth Management Sells 1,593 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Spire Wealth Management reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,106 shares of the company’s stock after selling 1,593 shares during the quarter. Spire Wealth Management’s holdings in IDEXX Laboratories were worth $4,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after acquiring an additional 98,387 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of IDEXX Laboratories by 2.1% during the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock worth $780,303,000 after acquiring an additional 28,475 shares during the last quarter. Capital World Investors grew its position in IDEXX Laboratories by 1.1% in the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after acquiring an additional 11,351 shares in the last quarter. Norges Bank bought a new position in IDEXX Laboratories in the fourth quarter valued at $512,190,000. Finally, Charles Schwab Investment Management Inc. raised its position in IDEXX Laboratories by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 476,799 shares of the company’s stock valued at $264,647,000 after purchasing an additional 14,264 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 1.2 %

Shares of NASDAQ:IDXX traded down $5.95 during midday trading on Friday, hitting $481.33. 406,350 shares of the stock traded hands, compared to its average volume of 482,013. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $39.75 billion, a PE ratio of 46.60, a P/E/G ratio of 3.91 and a beta of 1.32. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The business’s 50 day moving average is $481.58 and its two-hundred day moving average is $507.23.

IDEXX Laboratories (NASDAQ:IDXX) 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 business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.67 EPS. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on IDXX. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler lowered their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Finally, Morgan Stanley decreased their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $582.25.

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.