Waters Parkerson & CO. LLC Buys 68 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Waters Parkerson & CO. LLC raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 918 shares of the company’s stock after acquiring an additional 68 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in IDEXX Laboratories were worth $447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after purchasing an additional 1,839 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth $20,418,000. Brevan Howard Capital Management LP bought a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $3,183,000. First Hawaiian Bank acquired a new position in shares of IDEXX Laboratories in the first quarter valued at about $982,000. Finally, Meyer Handelman Co. bought a new position in IDEXX Laboratories during the first quarter worth about $2,155,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 1.1 %

NASDAQ:IDXX opened at $517.06 on Friday. 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, Inc. has a one year low of $372.50 and a one year high of $583.39. The firm’s 50 day simple moving average is $483.57 and its 200 day simple moving average is $500.01. The company has a market cap of $42.70 billion, a PE ratio of 50.05, a P/E/G ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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). 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 business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.67 EPS. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.