Ieq Capital LLC Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ieq Capital LLC increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,551 shares of the company’s stock after buying an additional 342 shares during the period. Ieq Capital LLC’s holdings in IDEXX Laboratories were worth $3,679,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares during the last quarter. Capital World Investors raised its position in IDEXX Laboratories by 1.1% during the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after purchasing an additional 11,351 shares in the last quarter. American Century Companies Inc. lifted its stake in IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after purchasing an additional 177,226 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of IDEXX Laboratories by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after purchasing an additional 59,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of IDEXX Laboratories by 12.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after purchasing an additional 43,473 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $506.74 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The firm has a market cap of $41.85 billion, a P/E ratio of 49.06, a P/E/G 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 $499.16.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $2.67 earnings per share. IDEXX Laboratories’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on IDXX. Stifel Nicolaus cut their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. BTIG Research began 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 for the company. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler cut their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories 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.