Spinnaker Trust Sells 547 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Spinnaker Trust lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,731 shares of the company’s stock after selling 547 shares during the period. Spinnaker Trust’s holdings in IDEXX Laboratories were worth $2,390,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories during the 2nd quarter valued at approximately $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories in the 2nd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on IDXX. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Barclays lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday. Piper Sandler reiterated a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a report on Monday. Finally, Stifel Nicolaus reduced their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Trading Up 0.4 %

NASDAQ:IDXX traded up $1.79 during midday trading on Wednesday, hitting $417.77. The stock had a trading volume of 199,163 shares, compared to its average volume of 491,628. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $476.04 and a 200 day moving average of $486.32. The company has a market capitalization of $34.39 billion, a price-to-earnings ratio of 40.11, a PEG ratio of 3.64 and a beta of 1.36. IDEXX Laboratories, Inc. has a one year low of $404.74 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping 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 net margin of 22.53% and a return on equity of 55.42%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.53 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

IDEXX Laboratories 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.