Dynamic Advisor Solutions LLC Sells 39 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Dynamic Advisor Solutions LLC decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 688 shares of the company’s stock after selling 39 shares during the period. Dynamic Advisor Solutions LLC’s holdings in IDEXX Laboratories were worth $348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after purchasing an additional 98,387 shares in the last quarter. American Century Companies Inc. grew its stake in IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 buying an additional 59,519 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of IDEXX Laboratories by 12.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock worth $190,283,000 after acquiring an additional 43,473 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in IDEXX Laboratories by 696.0% in the second quarter. Clearbridge Investments LLC now owns 352,814 shares of the company’s stock worth $171,891,000 after acquiring an additional 308,493 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Piper Sandler dropped their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. 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. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. reduced 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price of $574.13.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $476.27 on Friday. The company’s fifty day simple moving average is $488.00 and its two-hundred day simple moving average is $493.93. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The firm has a market cap of $39.33 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 4.14 and a beta of 1.33. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

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