Bank of Montreal Can Has $59.25 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank of Montreal Can cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,765 shares of the company’s stock after selling 13,041 shares during the period. Bank of Montreal Can owned about 0.14% of IDEXX Laboratories worth $59,246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Eads & Heald Wealth Management grew its stake in shares of IDEXX Laboratories by 0.8% in the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after buying an additional 22 shares in the last quarter. LRI Investments LLC grew its stake in shares of IDEXX Laboratories by 21.7% in the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after buying an additional 23 shares in the last quarter. Sovereign Financial Group Inc. grew its stake in shares of IDEXX Laboratories by 5.1% in the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after buying an additional 23 shares in the last quarter. Mather Group LLC. grew its stake in shares of IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after buying an additional 23 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after buying an additional 25 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IDXX shares. 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. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $552.38.

IDEXX Laboratories Trading Up 1.1 %

Shares of IDEXX Laboratories stock opened at $421.76 on Thursday. The firm has a 50-day moving average of $455.52 and a 200-day moving average of $479.07. The stock has a market cap of $34.54 billion, a PE ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36. 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.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. IDEXX Laboratories’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.43 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.