Renaissance Technologies LLC Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Renaissance Technologies LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 39.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,604 shares of the company’s stock after selling 13,200 shares during the quarter. Renaissance Technologies LLC’s holdings in IDEXX Laboratories were worth $10,038,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IDXX. Riverview Trust Co acquired a new position in IDEXX Laboratories in the 1st quarter valued at $26,000. Crewe Advisors LLC purchased a new position in IDEXX Laboratories during the first quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in IDEXX Laboratories in the second quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $28,000. Finally, nVerses Capital LLC acquired a new position in IDEXX Laboratories during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 0.2 %

Shares of NASDAQ IDXX opened at $507.66 on Tuesday. 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’s 50-day moving average is $484.35 and its two-hundred day moving average is $498.35. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a market capitalization of $41.93 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share 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 company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business posted $2.67 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report 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. BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Finally, 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 research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.