Algert Global LLC Purchases 292 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Algert Global LLC increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 70.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 709 shares of the company’s stock after buying an additional 292 shares during the period. Algert Global LLC’s holdings in IDEXX Laboratories were worth $345,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of IDEXX Laboratories by 46.0% during the 2nd 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $78,001,000. 1832 Asset Management L.P. boosted its stake in shares of IDEXX Laboratories by 4,193.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 128,491 shares of the company’s stock worth $62,601,000 after acquiring an additional 125,498 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $55,425,000. Finally, Vanguard Group Inc. increased its holdings in shares of IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after acquiring an additional 98,387 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $475.53 on Wednesday. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month 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 market cap of $39.27 billion, a P/E ratio of 46.15, a PEG ratio of 4.32 and a beta of 1.33. The company’s 50-day simple moving average is $487.95 and its 200 day simple moving average is $495.24.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 earnings per share. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Piper Sandler decreased their target price 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. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

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.