IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,752 shares of the company’s stock after selling 167 shares during the quarter. Amalgamated Bank’s holdings in IDEXX Laboratories were worth $8,649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. Avantax Advisory Services Inc. increased its holdings in shares of IDEXX Laboratories by 21.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 632 shares of the company’s stock worth $351,000 after buying an additional 110 shares during the last quarter. Panagora Asset Management Inc. increased its stake in IDEXX Laboratories by 2.8% during the fourth quarter. Panagora Asset Management Inc. now owns 1,523 shares of the company’s stock worth $845,000 after acquiring an additional 41 shares during the last quarter. Financial Advocates Investment Management purchased a new stake in IDEXX Laboratories in the fourth quarter valued at $269,000. PNC Financial Services Group Inc. lifted its stake in shares of IDEXX Laboratories by 1.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 39,988 shares of the company’s stock valued at $22,195,000 after purchasing an additional 721 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of IDEXX Laboratories by 13.8% during the 4th quarter. UBS Group AG now owns 209,438 shares of the company’s stock worth $116,249,000 after purchasing an additional 25,409 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $511.30 on Thursday. The company has a market cap of $42.23 billion, a P/E ratio of 49.50, a PEG ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. 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 firm’s 50 day moving average price is $482.98 and its 200 day moving average price is $499.90.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 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 analyst estimates of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.67 EPS. On average, research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the topic of several research analyst reports. BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Piper Sandler lowered 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. Finally, Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target 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.