IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by IMS Capital Management

IMS Capital Management decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 477 shares of the company’s stock after selling 115 shares during the quarter. IMS Capital Management’s holdings in IDEXX Laboratories were worth $236,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new position in IDEXX Laboratories during the 4th quarter valued at about $135,910,000. American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 46.0% in the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $78,001,000. 1832 Asset Management L.P. grew its holdings 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 valued at $62,601,000 after purchasing an additional 125,498 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in IDEXX Laboratories during the 1st quarter worth approximately $55,425,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research assumed coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Piper Sandler lowered their target price 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. Finally, Stifel Nicolaus reduced 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 investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $505.22 on Tuesday. The company has a market capitalization of $41.72 billion, a price-to-earnings ratio of 48.91, a price-to-earnings-growth ratio of 4.32 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 quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average price of $486.74 and a 200 day moving average price of $496.93.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly 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 company 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. IDEXX Laboratories’s revenue was up 6.4% compared to the same quarter last year. Research analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

IDEXX Laboratories 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.