Cetera Investment Advisers Has $9.89 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cetera Investment Advisers raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,290 shares of the company’s stock after acquiring an additional 161 shares during the quarter. Cetera Investment Advisers’ holdings in IDEXX Laboratories were worth $9,885,000 as of its most recent SEC filing.

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

IDEXX Laboratories Trading Down 1.2 %

NASDAQ:IDXX opened at $477.67 on Friday. The company has a market cap of $39.45 billion, a P/E ratio of 46.24, a price-to-earnings-growth ratio of 4.32 and a beta of 1.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The business has a 50 day moving average price of $487.95 and a two-hundred day moving average price of $495.89. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the company posted $2.67 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts expect that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on IDXX. Piper Sandler reduced their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BTIG Research began coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $582.25.

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.