Arete Wealth Advisors LLC Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arete Wealth Advisors LLC cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 93.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories in the third quarter valued at approximately $25,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of IDEXX Laboratories by 5,700.0% during the 3rd 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. Finally, Mowery & Schoenfeld Wealth Management LLC grew 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 worth $34,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.0 %

IDXX stock opened at $421.75 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market cap of $34.53 billion, a price-to-earnings ratio of 40.67, a price-to-earnings-growth ratio of 3.68 and a beta of 1.36. The company has a fifty day moving average price of $451.91 and a 200 day moving average price of $478.11.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.53 earnings per share. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s 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 in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

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

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.