William Blair Investment Management LLC Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

William Blair Investment Management LLC decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,121 shares of the company’s stock after selling 1,907 shares during the period. William Blair Investment Management LLC owned 0.08% of IDEXX Laboratories worth $32,701,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in IDEXX Laboratories during the first quarter worth $26,000. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $27,000. Institutional & Family Asset Management LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $28,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.7 %

NASDAQ IDXX opened at $500.55 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The firm has a 50 day moving average of $481.18 and a two-hundred day moving average of $501.22. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $41.20 billion, a PE ratio of 48.46, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on IDXX shares. 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 report on Wednesday, August 14th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus lowered their price objective on shares of 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, BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.