IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,715 shares of the company’s stock after purchasing an additional 85 shares during the period. Cabot Wealth Management Inc.’s holdings in IDEXX Laboratories were worth $2,887,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Atomi Financial Group Inc. raised its stake in IDEXX Laboratories by 3.4% during the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after buying an additional 21 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of IDEXX Laboratories by 1.9% in the 1st quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock valued at $641,000 after acquiring an additional 22 shares during the last quarter. Eads & Heald Wealth Management raised its position in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after acquiring an additional 22 shares in the last quarter. LRI Investments LLC lifted its stake in IDEXX Laboratories by 21.7% during the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after purchasing an additional 23 shares during the last quarter. Finally, Sovereign Financial Group Inc. boosted its holdings in IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on IDXX. Stifel Nicolaus reduced 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 report on Thursday, October 10th. JPMorgan Chase & Co. cut their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Finally, Piper Sandler lowered their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $574.13.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $4.08 during midday trading on Tuesday, reaching $473.92. The stock had a trading volume of 555,788 shares, compared to its average volume of 467,800. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The company has a market capitalization of $39.14 billion, a P/E ratio of 46.27, a P/E/G ratio of 4.14 and a beta of 1.33. The firm’s 50 day moving average price is $488.46 and its 200-day moving average price is $493.17. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm posted $2.67 earnings per share. IDEXX Laboratories’s revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal 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.