AQR Capital Management LLC Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

AQR Capital Management LLC trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 48.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,535 shares of the company’s stock after selling 27,834 shares during the period. AQR Capital Management LLC’s holdings in IDEXX Laboratories were worth $14,389,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Piper Sandler reduced their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Stifel Nicolaus lowered their price objective 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. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three 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, the company currently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Stock Down 1.9 %

NASDAQ IDXX opened at $495.42 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. 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 stock has a market cap of $40.92 billion, a PE ratio of 47.96, a P/E/G ratio of 4.32 and a beta of 1.33. The stock’s 50 day moving average is $487.24 and its 200 day moving average is $496.69.

IDEXX Laboratories (NASDAQ:IDXX) last released 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). The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $2.67 EPS. 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.