ProShare Advisors LLC Sells 9,125 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ProShare Advisors LLC reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,150 shares of the company’s stock after selling 9,125 shares during the quarter. ProShare Advisors LLC owned about 0.12% of IDEXX Laboratories worth $48,306,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in IDEXX Laboratories by 450.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 43,208 shares of the company’s stock valued at $21,050,000 after buying an additional 35,352 shares during the period. Sei Investments Co. increased its holdings in IDEXX Laboratories by 25.1% in the 2nd quarter. Sei Investments Co. now owns 196,808 shares of the company’s stock valued at $95,885,000 after buying an additional 39,455 shares during the period. Pacer Advisors Inc. increased its holdings in IDEXX Laboratories by 25.2% in the 2nd quarter. Pacer Advisors Inc. now owns 12,013 shares of the company’s stock valued at $5,853,000 after buying an additional 2,416 shares during the period. AE Wealth Management LLC increased its holdings in IDEXX Laboratories by 16.6% in the 2nd quarter. AE Wealth Management LLC now owns 7,957 shares of the company’s stock valued at $3,877,000 after buying an additional 1,134 shares during the period. Finally, Waters Parkerson & CO. LLC increased its holdings in IDEXX Laboratories by 8.0% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 918 shares of the company’s stock valued at $447,000 after buying an additional 68 shares during the period. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler decreased 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. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Down 2.0 %

NASDAQ:IDXX opened at $506.74 on Monday. The firm’s 50 day simple moving average is $483.85 and its 200 day simple moving average is $498.74. 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 company has a market cap of $41.85 billion, a PE ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33.

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

About IDEXX Laboratories

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.