Beacon Investment Advisory Services Inc. Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Beacon Investment Advisory Services Inc. reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,683 shares of the company’s stock after selling 2,176 shares during the period. IDEXX Laboratories makes up 1.8% of Beacon Investment Advisory Services Inc.’s portfolio, making the stock its 12th largest holding. Beacon Investment Advisory Services Inc. owned approximately 0.11% of IDEXX Laboratories worth $43,794,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IDXX. FSA Wealth Management LLC bought a new stake in IDEXX Laboratories in the third quarter worth about $25,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories in the second quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. lifted 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 purchasing an additional 57 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of IDEXX Laboratories in the second quarter worth about $36,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 0.0 %

IDEXX Laboratories stock opened at $421.75 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The firm has a market cap of $34.54 billion, a P/E ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36. The business has a fifty day moving average of $451.91 and a two-hundred day moving average of $477.31. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping 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 firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same period in the prior year, the business posted $2.53 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research analyst reports. Barclays decreased their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday. They set an “outperform” rating and a $500.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $546.56.

IDEXX Laboratories 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.