Oppenheimer Asset Management Inc. Has $6 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Oppenheimer Asset Management Inc. cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,881 shares of the company’s stock after selling 76 shares during the period. Oppenheimer Asset Management Inc.’s holdings in IDEXX Laboratories were worth $6,003,000 as of its most recent SEC filing.

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

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $423.65 on Friday. The stock has a 50 day simple moving average of $470.26 and a 200 day simple moving average of $483.80. The stock has a market cap of $34.69 billion, a P/E ratio of 40.85, a PEG ratio of 3.72 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $404.74 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.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.53 EPS. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. BTIG Research began 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. Barclays dropped their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler restated a “neutral” rating and issued a $435.00 price target (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.