Obermeyer Wood Investment Counsel Lllp Sells 319 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Obermeyer Wood Investment Counsel Lllp trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,421 shares of the company’s stock after selling 319 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in IDEXX Laboratories were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth about $26,000. Crewe Advisors LLC bought a new position in shares of IDEXX Laboratories in the first quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories during the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, DSM Capital Partners LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at $33,000. Institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Finally, Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded down $5.95 during trading hours on Friday, hitting $481.33. The stock had a trading volume of 406,350 shares, compared to its average volume of 498,073. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The stock has a market capitalization of $39.62 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 4.10 and a beta of 1.32. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The stock’s 50-day moving average price is $481.58 and its two-hundred day moving average price is $506.89.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company earned $2.67 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post 10.45 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.