Bridges Investment Management Inc. Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bridges Investment Management Inc. bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 524 shares of the company’s stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IDXX. D.A. Davidson & CO. grew its stake in shares of IDEXX Laboratories by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 1,509 shares of the company’s stock valued at $838,000 after purchasing an additional 64 shares during the period. US Bancorp DE grew its position in IDEXX Laboratories by 2.6% in the fourth quarter. US Bancorp DE now owns 19,820 shares of the company’s stock valued at $11,001,000 after acquiring an additional 502 shares during the period. Orion Portfolio Solutions LLC grew its position in IDEXX Laboratories by 8.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 2,910 shares of the company’s stock valued at $1,583,000 after acquiring an additional 222 shares during the period. ProVise Management Group LLC acquired a new position in IDEXX Laboratories during the fourth quarter worth $211,000. Finally, HCR Wealth Advisors bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $201,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $506.74 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $483.85 and a 200 day simple moving average of $498.74. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The firm has a market cap of $41.85 billion, a P/E ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its 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). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $2.67 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on IDXX shares. Piper Sandler lowered their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BTIG Research started 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. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories has a consensus 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.