IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 37.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,572 shares of the company’s stock after selling 3,400 shares during the quarter. Prio Wealth Limited Partnership’s holdings in IDEXX Laboratories were worth $2,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IDXX. Wellington Management Group LLP boosted its stake in shares of IDEXX Laboratories by 1,503.9% in the 4th quarter. Wellington Management Group LLP now owns 55,913 shares of the company’s stock valued at $31,035,000 after buying an additional 52,427 shares during the period. Ballentine Partners LLC boosted its stake in shares of IDEXX Laboratories by 1.9% in the 1st quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock valued at $641,000 after buying an additional 22 shares during the period. Steph & Co. boosted its stake in shares of IDEXX Laboratories by 12.9% in the 1st quarter. Steph & Co. now owns 333 shares of the company’s stock valued at $180,000 after buying an additional 38 shares during the period. Riverview Trust Co purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $26,000. Finally, DGS Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 21.0% in the 1st quarter. DGS Capital Management LLC now owns 1,287 shares of the company’s stock valued at $695,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. decreased their target price on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, BTIG Research began coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $574.13.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded down $9.90 during trading on Monday, reaching $447.84. The company had a trading volume of 283,226 shares, compared to its average volume of 471,629. The firm has a market capitalization of $36.99 billion, a price-to-earnings ratio of 44.03, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The stock’s fifty day moving average price is $487.50 and its 200 day moving average price is $491.33. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The company 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%. 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 firm posted $2.67 EPS. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

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.