IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 703 shares of the company’s stock after selling 98 shares during the period. Summit Trail Advisors LLC’s holdings in IDEXX Laboratories were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of IDXX. Nordea Investment Management AB boosted its stake in IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after acquiring an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at about $20,418,000. Brevan Howard Capital Management LP purchased a new position in IDEXX Laboratories during the 4th quarter worth approximately $3,183,000. First Hawaiian Bank acquired a new position in IDEXX Laboratories during the first quarter worth approximately $982,000. Finally, Meyer Handelman Co. purchased a new stake in IDEXX Laboratories in the first quarter valued at approximately $2,155,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDXX. Piper Sandler cut 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 started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Trading Up 0.2 %

IDEXX Laboratories stock opened at $507.66 on Tuesday. The firm has a market capitalization of $41.93 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The company has a 50 day moving average price of $484.35 and a 200 day moving average price of $498.35.

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