Benjamin F. Edwards & Company Inc. Grows Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Benjamin F. Edwards & Company Inc. raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,657 shares of the company’s stock after buying an additional 45 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in IDEXX Laboratories were worth $807,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several analysts have issued reports on IDXX shares. Piper Sandler lowered their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. BTIG Research began coverage on 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 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. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Price Performance

IDXX stock opened at $506.38 on Wednesday. The firm has a 50 day moving average of $484.48 and a 200-day moving average of $497.97. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $41.82 billion, a P/E ratio of 49.02, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm earned $2.67 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

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.