Beacon Investment Advisory Services Inc. Has $32.91 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Beacon Investment Advisory Services Inc. trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 79,604 shares of the company’s stock after selling 7,079 shares during the period. IDEXX Laboratories makes up approximately 1.4% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 19th biggest holding. Beacon Investment Advisory Services Inc.’s holdings in IDEXX Laboratories were worth $32,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IDXX. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in IDEXX Laboratories during the second quarter worth about $36,000. Institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IDXX. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. Barclays lowered their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Piper Sandler restated a “neutral” rating and issued a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $523.86.

IDEXX Laboratories Trading Up 0.8 %

IDEXX Laboratories stock opened at $430.59 on Thursday. The company has a market cap of $35.26 billion, a price-to-earnings ratio of 41.52, a P/E/G ratio of 3.60 and a beta of 1.36. The firm has a 50-day moving average of $423.28 and a 200-day moving average of $456.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.53 earnings per share. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.11% of the company’s stock.

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.