Conestoga Capital Advisors LLC Lowers Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Conestoga Capital Advisors LLC trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 1,629 shares of the company’s stock after selling 85 shares during the period. Conestoga Capital Advisors LLC’s holdings in IDEXX Laboratories were worth $823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manitou Investment Management Ltd. lifted its holdings in shares of IDEXX Laboratories by 5.5% during the 3rd quarter. Manitou Investment Management Ltd. now owns 8,833 shares of the company’s stock worth $4,463,000 after acquiring an additional 462 shares during the period. E Fund Management Hong Kong Co. Ltd. raised its position in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares during the period. Financial Advocates Investment Management grew its position in IDEXX Laboratories by 7.3% during the third quarter. Financial Advocates Investment Management now owns 783 shares of the company’s stock valued at $396,000 after acquiring an additional 53 shares during the period. Pinnacle Associates Ltd. increased its stake in IDEXX Laboratories by 9.0% during the third quarter. Pinnacle Associates Ltd. now owns 2,070 shares of the company’s stock worth $1,149,000 after acquiring an additional 171 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of IDEXX Laboratories by 26.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,770 shares of the company’s stock worth $1,400,000 after purchasing an additional 583 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 3.1 %

Shares of IDXX traded up $12.61 during midday trading on Friday, hitting $419.53. The company had a trading volume of 305,410 shares, compared to its average volume of 487,526. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 52 week low of $395.37 and a 52 week high of $583.39. The company’s 50 day moving average price is $480.17 and its 200 day moving average price is $487.66. The stock has a market cap of $34.53 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 3.94 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same quarter last year, the business posted $2.53 EPS. IDEXX Laboratories’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler cut their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their target price on 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 started coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $574.13.

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.