Ropes Wealth Advisors LLC Trims Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ropes Wealth Advisors LLC cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Rating) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,470 shares of the company’s stock after selling 367 shares during the quarter. IDEXX Laboratories makes up about 0.9% of Ropes Wealth Advisors LLC’s holdings, making the stock its 29th biggest holding. Ropes Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $4,919,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in IDXX. Orion Portfolio Solutions LLC grew its position in shares of IDEXX Laboratories by 9.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 552 shares of the company’s stock worth $343,000 after buying an additional 48 shares during the period. Creative Planning grew its position in IDEXX Laboratories by 2.6% during the 3rd quarter. Creative Planning now owns 11,998 shares of the company’s stock valued at $7,462,000 after purchasing an additional 307 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in IDEXX Laboratories by 28.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 11,530 shares of the company’s stock valued at $7,171,000 after purchasing an additional 2,582 shares during the last quarter. Rafferty Asset Management LLC grew its position in IDEXX Laboratories by 11.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 9,078 shares of the company’s stock valued at $5,646,000 after purchasing an additional 905 shares during the last quarter. Finally, Citigroup Inc. grew its position in IDEXX Laboratories by 14.1% during the 3rd quarter. Citigroup Inc. now owns 88,953 shares of the company’s stock valued at $55,319,000 after purchasing an additional 10,973 shares during the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Jonathan W. Ayers sold 250 shares of the stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $509.70, for a total value of $127,425.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.06% of the stock is owned by corporate insiders.

Several analysts recently commented on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Bank of America downgraded shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating and cut their price objective for the company from $550.00 to $470.00 in a research report on Thursday, May 5th. Finally, Atlantic Securities began coverage on shares of IDEXX Laboratories in a research note on Tuesday, February 8th. They set an “overweight” rating and a $650.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $663.67.

IDXX traded up $14.23 during midday trading on Friday, hitting $362.18. 833,844 shares of the company traded hands, compared to its average volume of 824,767. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $30.43 billion, a PE ratio of 42.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10. The company’s 50-day moving average is $487.03 and its 200 day moving average is $545.45. IDEXX Laboratories, Inc. has a 52 week low of $330.66 and a 52 week high of $706.95.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.02. IDEXX Laboratories had a net margin of 22.43% and a return on equity of 103.70%. The firm had revenue of $836.55 million for the quarter, compared to analysts’ expectations of $836.47 million. During the same quarter in the prior year, the business earned $2.35 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 8.24 earnings per share for the current fiscal year.

IDEXX Laboratories Company Profile (Get Rating)

IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

Further Reading

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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