Eads & Heald Wealth Management Sells 67 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Eads & Heald Wealth Management trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,619 shares of the company’s stock after selling 67 shares during the quarter. Eads & Heald Wealth Management’s holdings in IDEXX Laboratories were worth $1,323,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of IDEXX Laboratories by 10.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 40,771 shares of the company’s stock worth $22,013,000 after purchasing an additional 3,886 shares during the last quarter. Norden Group LLC purchased a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $2,450,000. First Trust Direct Indexing L.P. grew its stake in shares of IDEXX Laboratories by 22.3% in the first quarter. First Trust Direct Indexing L.P. now owns 2,066 shares of the company’s stock worth $1,115,000 after acquiring an additional 377 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of IDEXX Laboratories by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 34,419 shares of the company’s stock worth $18,584,000 after acquiring an additional 1,078 shares during the period. Finally, BNP Paribas purchased a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $1,031,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Up 2.5 %

Shares of IDEXX Laboratories stock opened at $417.28 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $395.37 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 company has a market capitalization of $34.35 billion, a P/E ratio of 41.31, a P/E/G ratio of 3.94 and a beta of 1.33. The company has a fifty day moving average of $478.76 and a 200 day moving average of $487.14.

IDEXX Laboratories (NASDAQ:IDXX) last released its 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 firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter last year, the business posted $2.53 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the topic of several research reports. Piper Sandler dropped their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective 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 report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $574.13.

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.