Forsta AP Fonden cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 6.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,600 shares of the company’s stock after selling 1,900 shares during the quarter. Forsta AP Fonden’s holdings in IDEXX Laboratories were worth $15,099,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in IDXX. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $27,000. City State Bank acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $42,000. Sageworth Trust Co of South Dakota acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $47,000. Confluence Wealth Services Inc. acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $61,000. Finally, O Dell Group LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $62,000. 84.92% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
IDXX has been the subject of several research reports. Piper Sandler reduced their price target on IDEXX Laboratories from $440.00 to $420.00 and set an “overweight” rating for the company in a report on Tuesday, July 26th. Barclays cut their price objective on IDEXX Laboratories from $700.00 to $582.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $415.00 price objective on the stock. in a research note on Wednesday. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Finally, The Goldman Sachs Group raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and cut their price objective for the company from $530.00 to $435.00 in a research note on Thursday, July 21st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $519.38.
IDEXX Laboratories Stock Performance
IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. The business had revenue of $836.55 million for the quarter, compared to analysts’ expectations of $836.47 million. IDEXX Laboratories had a return on equity of 104.47% and a net margin of 20.07%. IDEXX Laboratories’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.35 earnings per share. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 7.97 EPS for the current year.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.
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