Public Employees Retirement Association of Colorado Lowers Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Public Employees Retirement Association of Colorado cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,467 shares of the company’s stock after selling 312 shares during the period. Public Employees Retirement Association of Colorado’s holdings in IDEXX Laboratories were worth $5,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its holdings in IDEXX Laboratories by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 1,509 shares of the company’s stock valued at $838,000 after purchasing an additional 64 shares during the last quarter. US Bancorp DE increased its holdings in IDEXX Laboratories by 2.6% during the 4th quarter. US Bancorp DE now owns 19,820 shares of the company’s stock worth $11,001,000 after purchasing an additional 502 shares during the period. Orion Portfolio Solutions LLC raised its holdings in IDEXX Laboratories by 8.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 2,910 shares of the company’s stock valued at $1,583,000 after acquiring an additional 222 shares in the last quarter. ProVise Management Group LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $211,000. Finally, HCR Wealth Advisors purchased a new stake in IDEXX Laboratories during the 4th quarter worth about $201,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IDXX has been the subject of several research analyst reports. BTIG Research started coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Piper Sandler lowered their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Stifel Nicolaus dropped their price objective on shares of 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, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three equities research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Stock Down 2.0 %

NASDAQ IDXX opened at $506.74 on Monday. The company’s 50 day simple moving average is $483.85 and its 200 day simple moving average is $498.74. The company has a market capitalization of $41.85 billion, a P/E ratio of 49.06, a PEG ratio of 4.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. 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 quarterly earnings results on Tuesday, August 6th. The company reported $2.44 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 company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the firm earned $2.67 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

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.