J. Stern & Co. LLP Boosts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

J. Stern & Co. LLP grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 512.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,243 shares of the company’s stock after acquiring an additional 1,877 shares during the period. IDEXX Laboratories comprises 0.1% of J. Stern & Co. LLP’s holdings, making the stock its 26th biggest position. J. Stern & Co. LLP’s holdings in IDEXX Laboratories were worth $1,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors purchased a new stake in IDEXX Laboratories in the 4th quarter worth approximately $135,910,000. American Century Companies Inc. boosted its holdings in IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares in the last quarter. TD Asset Management Inc grew its position in IDEXX Laboratories by 178.8% during the fourth quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after buying an additional 166,751 shares during the period. Point72 Asset Management L.P. purchased a new position in IDEXX Laboratories in the fourth quarter valued at $78,001,000. Finally, 1832 Asset Management L.P. raised its position in shares of IDEXX Laboratories by 4,193.1% in the second quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after acquiring an additional 125,498 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 2.0 %

IDXX stock opened at $506.74 on Monday. The company has a market cap of $41.85 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 4.17 and a beta of 1.33. The firm has a 50-day moving average of $483.85 and a two-hundred day moving average of $498.74. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. 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 (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $2.67 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IDXX has been the subject of several recent analyst reports. Piper Sandler cut their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three equities 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 company presently has an average 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.