Commonwealth Equity Services LLC Trims Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Commonwealth Equity Services LLC trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,297 shares of the company’s stock after selling 3,937 shares during the quarter. Commonwealth Equity Services LLC’s holdings in IDEXX Laboratories were worth $11,351,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. grew its position in shares of IDEXX Laboratories by 58.1% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,621 shares of the company’s stock valued at $900,000 after purchasing an additional 596 shares in the last quarter. Private Advisor Group LLC increased its stake in IDEXX Laboratories by 13.5% in the 4th quarter. Private Advisor Group LLC now owns 2,189 shares of the company’s stock worth $1,215,000 after acquiring an additional 261 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $230,000. Charles Schwab Investment Management Inc. boosted its position in shares of IDEXX Laboratories by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,799 shares of the company’s stock valued at $264,647,000 after acquiring an additional 14,264 shares during the last quarter. Finally, Sovereign Financial Group Inc. purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth about $241,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $471.29 on Thursday. The company has a market capitalization of $38.92 billion, a P/E ratio of 45.62, a PEG ratio of 4.10 and a beta of 1.32. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The stock has a 50 day moving average price of $480.58 and a two-hundred day moving average price of $505.05.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company earned $2.67 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IDXX shares. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Morgan Stanley cut their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Piper Sandler dropped their target price 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. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

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.