Edgestream Partners L.P. Decreases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Edgestream Partners L.P. decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 87.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,237 shares of the company’s stock after selling 8,340 shares during the quarter. Edgestream Partners L.P.’s holdings in IDEXX Laboratories were worth $625,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in IDEXX Laboratories by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock worth $379,875,000 after buying an additional 2,463 shares during the period. American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares during the period. International Assets Investment Management LLC grew its holdings in IDEXX Laboratories by 52,746.0% during the 3rd quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after purchasing an additional 527,460 shares during the last quarter. Dimensional Fund Advisors LP raised its position in IDEXX Laboratories by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after purchasing an additional 59,519 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in IDEXX Laboratories by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 406,086 shares of the company’s stock worth $205,163,000 after purchasing an additional 15,521 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $427.49 on Friday. The company has a market cap of $35.01 billion, a PE ratio of 41.22, a P/E/G ratio of 3.95 and a beta of 1.37. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm’s 50 day moving average price is $445.99 and its 200-day moving average price is $475.13.

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

Analyst Upgrades and Downgrades

IDXX has been the topic of several recent analyst reports. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Barclays reduced their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research report on Monday. They issued an “outperform” rating and a $500.00 price objective for the company. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $546.56.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was 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 of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.11% of the company’s stock.

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.