Sei Investments Co. Increases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sei Investments Co. lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,808 shares of the company’s stock after acquiring an additional 39,455 shares during the period. Sei Investments Co. owned 0.24% of IDEXX Laboratories worth $95,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 3.4% in the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after purchasing an additional 21 shares during the last quarter. Ballentine Partners LLC lifted its position in IDEXX Laboratories by 1.9% in the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after buying an additional 22 shares during the last quarter. Eads & Heald Wealth Management boosted its stake in IDEXX Laboratories by 0.8% during the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after buying an additional 22 shares during the period. LRI Investments LLC increased its position in IDEXX Laboratories by 21.7% during the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after acquiring an additional 23 shares during the last quarter. Finally, Mather Group LLC. increased its position in IDEXX Laboratories by 4.2% during the second quarter. Mather Group LLC. now owns 594 shares of the company’s stock valued at $321,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $506.74 on Friday. The firm’s 50 day simple moving average is $483.85 and its 200-day simple moving average is $499.16. 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, Inc. has a one year low of $372.50 and a one year high of $583.39. The firm has a market cap 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 (NASDAQ:IDXX) last announced its quarterly earnings data 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). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $2.67 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Wall Street Analyst Weigh In

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

IDEXX Laboratories Company 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.