Independent Advisor Alliance Has $978,000 Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Independent Advisor Alliance decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,935 shares of the company’s stock after selling 563 shares during the quarter. Independent Advisor Alliance’s holdings in IDEXX Laboratories were worth $978,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in IDXX. Chicago Partners Investment Group LLC lifted its stake in IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after acquiring an additional 96 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $20,418,000. Oppenheimer Asset Management Inc. lifted its stake in shares of IDEXX Laboratories by 13.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock worth $5,825,000 after buying an additional 1,453 shares during the last quarter. National Pension Service lifted its stake in shares of IDEXX Laboratories by 7.3% during the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after buying an additional 12,647 shares during the last quarter. Finally, EFG Asset Management Americas Corp. lifted its stake in shares of IDEXX Laboratories by 45.3% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after buying an additional 3,966 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 1.1 %

IDXX opened at $421.76 on Thursday. The company’s 50 day moving average is $455.52 and its 200-day moving average is $479.07. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a market cap of $34.54 billion, a P/E ratio of 40.67, a PEG ratio of 3.74 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same period last year, the company posted $2.53 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of research reports. Barclays cut their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price target (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered 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 report on Friday, October 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $552.38.

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.