IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Position Increased by Blue Trust Inc.

Blue Trust Inc. lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 136.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 744 shares of the company’s stock after buying an additional 429 shares during the period. Blue Trust Inc.’s holdings in IDEXX Laboratories were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after acquiring an additional 1,839 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth $3,183,000. Manning & Napier Advisors LLC acquired a new position in shares of IDEXX Laboratories in the 2nd quarter worth $20,418,000. First Hawaiian Bank acquired a new position in shares of IDEXX Laboratories in the 1st quarter worth $982,000. Finally, Meyer Handelman Co. acquired a new position in shares of IDEXX Laboratories in the 1st quarter worth $2,155,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 1.4 %

NASDAQ IDXX traded up $6.74 on Friday, reaching $492.26. The stock had a trading volume of 590,424 shares, compared to its average volume of 492,593. The business has a 50 day moving average price of $484.77 and a 200 day moving average price of $511.61. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market capitalization of $40.65 billion, a price-to-earnings ratio of 47.65, a P/E/G ratio of 3.91 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $2.67 EPS. IDEXX Laboratories’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on IDXX. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Piper Sandler lowered their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, Barclays lowered their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $582.25.

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.