IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 93.7% during the third quarter, HoldingsChannel.com reports. The fund owned 541 shares of the company’s stock after selling 8,030 shares during the quarter. Arete Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank increased its holdings in IDEXX Laboratories by 1.9% during the 3rd quarter. Toronto Dominion Bank now owns 42,283 shares of the company’s stock valued at $21,362,000 after acquiring an additional 808 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of IDEXX Laboratories by 7.9% in the third quarter. Coldstream Capital Management Inc. now owns 1,579 shares of the company’s stock valued at $787,000 after purchasing an additional 115 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after purchasing an additional 40,349 shares in the last quarter. M&T Bank Corp raised its position in shares of IDEXX Laboratories by 1.6% during the 3rd quarter. M&T Bank Corp now owns 5,693 shares of the company’s stock worth $2,876,000 after purchasing an additional 92 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank lifted its stake in IDEXX Laboratories by 0.5% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 6,344 shares of the company’s stock valued at $3,091,000 after buying an additional 32 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on IDXX shares. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus decreased their price target 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. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Price Performance

IDXX opened at $421.75 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company’s 50 day simple moving average is $451.91 and its 200 day simple moving average is $478.11. The stock has a market capitalization of $34.53 billion, a PE ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly 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 net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter last year, the business earned $2.53 EPS. IDEXX Laboratories’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

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.