Brasada Capital Management LP Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Brasada Capital Management LP lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,610 shares of the company’s stock after selling 226 shares during the quarter. IDEXX Laboratories makes up 1.8% of Brasada Capital Management LP’s holdings, making the stock its 17th biggest position. Brasada Capital Management LP’s holdings in IDEXX Laboratories were worth $10,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Private Advisor Group LLC raised its holdings in IDEXX Laboratories by 13.5% in the 4th quarter. Private Advisor Group LLC now owns 2,189 shares of the company’s stock worth $1,215,000 after purchasing an additional 261 shares during the period. NBC Securities Inc. increased its position in shares of IDEXX Laboratories by 5.2% in the fourth quarter. NBC Securities Inc. now owns 582 shares of the company’s stock valued at $323,000 after buying an additional 29 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of IDEXX Laboratories by 7.6% during the 4th quarter. QRG Capital Management Inc. now owns 3,467 shares of the company’s stock worth $1,924,000 after buying an additional 245 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of IDEXX Laboratories by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 451,985 shares of the company’s stock valued at $250,881,000 after buying an additional 24,852 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in IDEXX Laboratories by 12.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 673 shares of the company’s stock valued at $374,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 3.2 %

IDXX opened at $495.95 on Wednesday. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 48.01, a price-to-earnings-growth ratio of 4.02 and a beta of 1.33. The company’s 50 day simple moving average is $480.24 and its two-hundred day simple moving average is $502.33. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.67 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on IDXX. Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Morgan Stanley decreased their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Company Profile

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.