IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Obermeyer Wealth Partners

Obermeyer Wealth Partners trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,593 shares of the company’s stock after selling 742 shares during the quarter. Obermeyer Wealth Partners’ holdings in IDEXX Laboratories were worth $1,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC lifted its stake in IDEXX Laboratories by 4.5% during the 4th quarter. Lazard Asset Management LLC now owns 7,777 shares of the company’s stock valued at $3,214,000 after acquiring an additional 338 shares during the period. Investment Management Corp of Ontario raised its holdings in shares of IDEXX Laboratories by 28.7% during the fourth quarter. Investment Management Corp of Ontario now owns 3,463 shares of the company’s stock worth $1,432,000 after purchasing an additional 773 shares during the last quarter. Jefferies Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 123.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 26,606 shares of the company’s stock worth $11,000,000 after purchasing an additional 14,711 shares during the last quarter. Focus Partners Wealth lifted its position in IDEXX Laboratories by 175.2% during the fourth quarter. Focus Partners Wealth now owns 40,576 shares of the company’s stock valued at $17,603,000 after purchasing an additional 25,830 shares during the period. Finally, Deutsche Bank AG boosted its holdings in IDEXX Laboratories by 17.9% in the fourth quarter. Deutsche Bank AG now owns 357,479 shares of the company’s stock valued at $147,796,000 after purchasing an additional 54,360 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of recent research reports. Barclays lifted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Finally, Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $524.75.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $509.53 on Tuesday. The stock has a market capitalization of $40.98 billion, a P/E ratio of 47.75, a P/E/G ratio of 3.41 and a beta of 1.52. The company’s fifty day moving average price is $424.76 and its 200 day moving average price is $429.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter last year, the business earned $2.71 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

IDEXX Laboratories Company 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.