IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Purchased by Wealth Alliance

Wealth Alliance grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 460 shares of the company’s stock after purchasing an additional 40 shares during the quarter. Wealth Alliance’s holdings in IDEXX Laboratories were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of IDXX. Capital Research Global Investors acquired a new stake in IDEXX Laboratories during the 4th quarter worth $135,910,000. American Century Companies Inc. lifted its holdings in shares of IDEXX Laboratories by 46.0% in 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 during the last quarter. TD Asset Management Inc boosted its position in shares of IDEXX Laboratories by 178.8% in the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after purchasing an additional 166,751 shares during the period. Point72 Asset Management L.P. purchased a new position in IDEXX Laboratories during the 4th quarter worth approximately $78,001,000. Finally, Jupiter Asset Management Ltd. acquired a new position in IDEXX Laboratories during the first quarter worth approximately $55,425,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $506.74 on Friday. The company has a market cap of $41.85 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 4.17 and a beta of 1.33. 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 50 day moving average of $483.85 and a 200-day moving average of $499.57. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

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

Analyst Ratings Changes

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