Fisher Asset Management LLC Lowers Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fisher Asset Management LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 18.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 678 shares of the company’s stock after selling 153 shares during the period. Fisher Asset Management LLC’s holdings in IDEXX Laboratories were worth $343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings 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 acquiring an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $36,000. Finally, Ashton Thomas Securities LLC bought a new stake in IDEXX Laboratories in the third quarter worth $37,000. Institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred 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 transaction, the director now owns 905 shares of the company’s stock, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IDXX has been the subject of several research reports. Piper Sandler reiterated a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective 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. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $552.38.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $421.75 on Monday. The stock has a 50 day moving average price of $451.91 and a 200 day moving average price of $477.31. 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 has a market capitalization of $34.54 billion, a P/E ratio of 40.67, a P/E/G ratio of 3.68 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last released 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 return on equity of 55.42% and a net margin of 22.53%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.53 earnings per share. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

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.