Glenmede Trust Co. NA Cuts Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Glenmede Trust Co. NA reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 15,104 shares of the company’s stock after selling 2,797 shares during the quarter. Glenmede Trust Co. NA’s holdings in IDEXX Laboratories were worth $8,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $16,518,000. Liontrust Investment Partners LLP raised its holdings in IDEXX Laboratories by 17.6% in the 1st quarter. Liontrust Investment Partners LLP now owns 177,337 shares of the company’s stock worth $99,644,000 after purchasing an additional 26,557 shares during the period. Edgestream Partners L.P. raised its holdings in IDEXX Laboratories by 640.2% in the 1st quarter. Edgestream Partners L.P. now owns 16,469 shares of the company’s stock worth $9,254,000 after purchasing an additional 14,244 shares during the period. Arkadios Wealth Advisors boosted its position in IDEXX Laboratories by 16.9% during the first quarter. Arkadios Wealth Advisors now owns 1,220 shares of the company’s stock worth $686,000 after purchasing an additional 176 shares in the last quarter. Finally, Opal Capital LLC purchased a new position in IDEXX Laboratories during the first quarter worth approximately $3,067,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Up 1.6%

Shares of IDEXX Laboratories stock opened at $567.84 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. IDEXX Laboratories, Inc. has a twelve month low of $518.55 and a twelve month high of $769.98. The firm has a market capitalization of $44.79 billion, a PE ratio of 41.81, a P/E/G ratio of 3.06 and a beta of 1.54. The firm’s 50-day moving average price is $557.53 and its 200 day moving average price is $588.43.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.41 by $0.06. IDEXX Laboratories had a return on equity of 70.87% and a net margin of 24.63%.The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business earned $2.91 EPS. IDEXX Laboratories’s quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 14.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Citigroup started coverage on IDEXX Laboratories in a research report on Wednesday, April 15th. They issued a “neutral” rating and a $650.00 price objective for the company. Weiss Ratings upgraded IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Wall Street Zen cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, UBS Group cut their price target on shares of IDEXX Laboratories from $640.00 to $620.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $749.00.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.