Axxcess Wealth Management LLC Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Axxcess Wealth Management LLC lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,830 shares of the company’s stock after selling 29 shares during the quarter. Axxcess Wealth Management LLC’s holdings in IDEXX Laboratories were worth $1,430,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Chicago Partners Investment Group LLC boosted its stake in IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after acquiring an additional 96 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth approximately $20,418,000. Oppenheimer Asset Management Inc. increased its position in IDEXX Laboratories by 13.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the period. Vanguard Group Inc. lifted its stake in IDEXX Laboratories by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the last quarter. Finally, National Pension Service boosted its holdings in shares of IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after acquiring an additional 12,647 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $437.30 on Tuesday. 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 50 day simple moving average of $472.83 and a 200-day simple moving average of $485.07. The company has a market cap of $35.81 billion, a price-to-earnings ratio of 42.17, a price-to-earnings-growth ratio of 3.78 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12-month low of $404.74 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the company earned $2.53 earnings per share. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 10.43 EPS for the current year.

Analysts Set New Price Targets

IDXX has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Barclays decreased their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. 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 report on Thursday, October 10th. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, 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.