Old Port Advisors Has $2.61 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Old Port Advisors lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,311 shares of the company’s stock after selling 638 shares during the period. Old Port Advisors’ holdings in IDEXX Laboratories were worth $2,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its position in IDEXX Laboratories by 5,700.0% in 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 in the last quarter. Mowery & Schoenfeld Wealth Management LLC increased its stake in IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter worth approximately $37,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX traded up $1.24 during midday trading on Thursday, hitting $414.68. The company’s stock had a trading volume of 69,865 shares, compared to its average volume of 512,060. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 39.99, a P/E/G ratio of 3.94 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $426.01 and a 200 day moving average price of $463.83. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) 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 business had revenue of $975.50 million for the quarter, compared to analysts’ expectations of $980.32 million. During the same quarter in the previous year, the firm posted $2.53 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Barclays decreased their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $539.63.

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.