IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,629 shares of the company’s stock after selling 85 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in IDEXX Laboratories were worth $823,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Manitou Investment Management Ltd. grew its stake in IDEXX Laboratories by 5.5% during the 3rd quarter. Manitou Investment Management Ltd. now owns 8,833 shares of the company’s stock worth $4,463,000 after buying an additional 462 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in shares of IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Financial Advocates Investment Management increased its holdings in shares of IDEXX Laboratories by 7.3% in the 3rd quarter. Financial Advocates Investment Management now owns 783 shares of the company’s stock valued at $396,000 after acquiring an additional 53 shares during the period. Pinnacle Associates Ltd. raised its position in IDEXX Laboratories by 9.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,070 shares of the company’s stock valued at $1,149,000 after purchasing an additional 171 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in IDEXX Laboratories by 26.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,770 shares of the company’s stock worth $1,400,000 after purchasing an additional 583 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded up $12.61 during midday trading on Friday, reaching $419.53. 305,410 shares of the company traded hands, compared to its average volume of 487,526. IDEXX Laboratories, Inc. has a 1-year low of $395.37 and a 1-year high of $583.39. The firm has a market cap of $34.53 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. The firm’s 50 day simple moving average is $480.17 and its two-hundred day simple moving average is $487.66. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter in the previous year, the company posted $2.53 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IDXX shares. JPMorgan Chase & Co. reduced their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Piper Sandler decreased 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. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Finally, BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock 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.