Canada Pension Plan Investment Board Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Canada Pension Plan Investment Board boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 130,350 shares of the company’s stock after buying an additional 5,911 shares during the period. Canada Pension Plan Investment Board owned approximately 0.16% of IDEXX Laboratories worth $63,507,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in IDEXX Laboratories during the first quarter worth $26,000. Crewe Advisors LLC purchased a new position in IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories in the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new stake in IDEXX Laboratories during the second quarter worth about $28,000. Finally, DSM Capital Partners LLC acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Piper Sandler decreased 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. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus cut 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, BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $506.74 on Friday. The stock’s 50-day simple moving average is $483.85 and its 200-day simple moving average is $499.16. The firm has a market capitalization of $41.85 billion, a PE ratio of 49.06, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37.

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 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $2.67 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

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.