Thoroughbred Financial Services LLC Grows Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Thoroughbred Financial Services LLC grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 213.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,253 shares of the company’s stock after buying an additional 853 shares during the period. Thoroughbred Financial Services LLC’s holdings in IDEXX Laboratories were worth $610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares in the last quarter. Franklin Resources Inc. grew its stake in IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock worth $780,303,000 after buying an additional 28,475 shares in the last quarter. Capital World Investors grew its stake in IDEXX Laboratories by 1.1% in the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after buying an additional 11,351 shares in the last quarter. Norges Bank purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $512,190,000. Finally, American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 2.2 %

Shares of NASDAQ IDXX opened at $511.38 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The firm has a market capitalization of $42.23 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. The firm has a fifty day simple moving average of $481.74 and a two-hundred day simple moving average of $500.27.

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

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research reports. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus cut 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, Piper Sandler dropped their price target 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories 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.