Laird Norton Wetherby Wealth Management LLC Lowers Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Laird Norton Wetherby Wealth Management LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,522 shares of the company’s stock after selling 304 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in IDEXX Laboratories were worth $629,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in IDXX. Investment Management Corp of Ontario lifted its stake in IDEXX Laboratories by 28.7% in the fourth quarter. Investment Management Corp of Ontario now owns 3,463 shares of the company’s stock worth $1,432,000 after acquiring an additional 773 shares during the period. Jefferies Financial Group Inc. lifted its stake in IDEXX Laboratories by 123.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 26,606 shares of the company’s stock worth $11,000,000 after acquiring an additional 14,711 shares during the period. Focus Partners Wealth lifted its stake in IDEXX Laboratories by 175.2% in the fourth quarter. Focus Partners Wealth now owns 40,576 shares of the company’s stock worth $17,603,000 after acquiring an additional 25,830 shares during the period. Deutsche Bank AG lifted its stake in IDEXX Laboratories by 17.9% in the fourth quarter. Deutsche Bank AG now owns 357,479 shares of the company’s stock worth $147,796,000 after acquiring an additional 54,360 shares during the period. Finally, Colonial Trust Co SC lifted its stake in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after acquiring an additional 39 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research reports. Bank of America upped their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Stifel Nicolaus reduced 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. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $524.75.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $509.42 on Thursday. The firm has a market capitalization of $40.97 billion, a P/E ratio of 47.74, a PEG ratio of 3.41 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $427.95 and a 200 day moving average price of $430.50. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. IDEXX Laboratories’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 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.