Meiji Yasuda Asset Management Co Ltd. Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 16.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,216 shares of the company’s stock after selling 239 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in IDEXX Laboratories were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of IDEXX Laboratories by 1.2% during the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after purchasing an additional 98,387 shares in the last quarter. Capital World Investors grew its stake in shares of 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 during the last quarter. American Century Companies Inc. increased its position in IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after buying an additional 177,226 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in IDEXX Laboratories by 13.1% during the second quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after buying an additional 59,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in IDEXX Laboratories by 12.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock worth $190,283,000 after acquiring an additional 43,473 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $506.74 on Friday. The firm’s 50-day moving average price is $483.85 and its 200-day moving average price is $499.57. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a market cap of $41.85 billion, a PE ratio of 49.06, a PEG ratio of 4.17 and a beta of 1.33. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its 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 company had revenue of $1 billion during 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 company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.67 EPS. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Analyst Upgrades and Downgrades

IDXX has been the subject of several analyst reports. Piper Sandler reduced their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus reduced 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. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus 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.